Skechers U.S.A. (NYSE:SKX) Sets New 12-Month Low at $33.47

Skechers U.S.A., Inc. (NYSE:SKXGet Rating)’s stock price hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $33.47 and last traded at $33.49, with a volume of 47475 shares changing hands. The stock had previously closed at $35.28.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SKX. Stifel Nicolaus reduced their price objective on Skechers U.S.A. from $61.00 to $45.00 in a research report on Wednesday, July 20th. UBS Group reduced their price objective on Skechers U.S.A. from $67.00 to $56.00 in a research report on Friday, July 15th. Cowen dropped their target price on Skechers U.S.A. to $39.00 and set an “outperform” rating for the company in a research note on Monday, July 25th. Morgan Stanley dropped their target price on Skechers U.S.A. from $62.00 to $59.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. Finally, Monness Crespi & Hardt dropped their target price on Skechers U.S.A. to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.89.

Skechers U.S.A. Price Performance

The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 7.72 and a beta of 1.28. The company has a quick ratio of 1.31, a current ratio of 2.34 and a debt-to-equity ratio of 0.07. The company has a 50 day simple moving average of $38.09 and a 200 day simple moving average of $38.23.

Skechers U.S.A. (NYSE:SKXGet Rating) last posted its earnings results on Tuesday, July 26th. The textile maker reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Skechers U.S.A. had a return on equity of 10.96% and a net margin of 10.41%. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.77 billion. As a group, research analysts predict that Skechers U.S.A., Inc. will post 2.64 EPS for the current year.

Insider Activity

In other news, EVP Mark A. Nason sold 15,198 shares of the stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $40.69, for a total value of $618,406.62. Following the completion of the sale, the executive vice president now owns 51,403 shares in the company, valued at $2,091,588.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 24.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Verition Fund Management LLC boosted its holdings in Skechers U.S.A. by 130.2% in the second quarter. Verition Fund Management LLC now owns 10,526 shares of the textile maker’s stock valued at $375,000 after purchasing an additional 45,392 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Skechers U.S.A. by 21.9% during the 2nd quarter. Captrust Financial Advisors now owns 4,821 shares of the textile maker’s stock worth $172,000 after buying an additional 867 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in Skechers U.S.A. during the 2nd quarter worth approximately $1,564,000. Dean Investment Associates LLC lifted its holdings in Skechers U.S.A. by 5.0% during the 2nd quarter. Dean Investment Associates LLC now owns 30,885 shares of the textile maker’s stock worth $1,099,000 after buying an additional 1,470 shares during the last quarter. Finally, United Services Automobile Association bought a new position in Skechers U.S.A. during the 2nd quarter worth approximately $514,000. Hedge funds and other institutional investors own 81.64% of the company’s stock.

About Skechers U.S.A.

(Get Rating)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.

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