Skechers U.S.A., Inc. (NYSE:SKX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have been assigned a consensus recommendation of “Moderate Buy” from the fourteen brokerages that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $70.00.

Several research firms recently commented on SKX. Stifel Nicolaus cut their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, April 10th. Barclays reissued an “equal weight” rating and issued a $63.00 price objective (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Morgan Stanley restated an “equal weight” rating and set a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Finally, Bank of America cut their price objective on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research report on Monday, March 24th.

Insider Transactions at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 40,924 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $2,486,542.24. Following the sale, the chief executive officer now directly owns 51,342 shares of the company’s stock, valued at $3,119,539.92. This represents a 44.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John M. Vandemore sold 5,112 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. This represents a 5.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,599 shares of company stock valued at $7,099,910. 24.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Skechers U.S.A.

Several hedge funds and other institutional investors have recently modified their holdings of SKX. SageView Advisory Group LLC lifted its position in shares of Skechers U.S.A. by 2.6% during the first quarter. SageView Advisory Group LLC now owns 8,720 shares of the textile maker’s stock worth $495,000 after purchasing an additional 224 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Skechers U.S.A. by 4.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 394,235 shares of the textile maker’s stock valued at $22,385,000 after buying an additional 16,915 shares in the last quarter. Empowered Funds LLC raised its stake in Skechers U.S.A. by 13.5% during the first quarter. Empowered Funds LLC now owns 132,461 shares of the textile maker’s stock valued at $7,521,000 after buying an additional 15,723 shares in the last quarter. Dean Capital Management lifted its holdings in Skechers U.S.A. by 2.1% during the 1st quarter. Dean Capital Management now owns 19,352 shares of the textile maker’s stock worth $1,099,000 after buying an additional 404 shares during the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Skechers U.S.A. in the 1st quarter worth approximately $498,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $62.05 on Wednesday. Skechers U.S.A. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The firm has a 50 day moving average price of $54.10 and a 200 day moving average price of $62.10. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 earnings per share. Sell-side analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current year.

About Skechers U.S.A.

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through Wholesale and Direct-to-Consumer segments. It offers footwear under Skechers Hands Free Slip-ins, Skechers Arch Fit, and Skechers Air-Cooled Memory Foam brands.