Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) gapped down prior to trading on Friday after Cowen lowered their price target on the stock from $65.00 to $62.00. The stock had previously closed at $49.18, but opened at $45.80. Cowen currently has an outperform rating on the stock. Skechers U.S.A. shares last traded at $46.77, with a volume of 291,022 shares changing hands.
Analysts Like The Fit Of Skechers USA
Other analysts also recently issued reports about the stock. Monness Crespi & Hardt boosted their target price on shares of Skechers U.S.A. to $50.00 in a research note on Friday, December 2nd. StockNews.com initiated coverage on shares of Skechers U.S.A. in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Argus raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Friday, January 6th. Morgan Stanley downgraded shares of Skechers U.S.A. from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $54.00 to $46.00 in a research note on Wednesday, January 18th. Finally, UBS Group boosted their price target on shares of Skechers U.S.A. from $53.00 to $63.00 in a report on Friday, January 20th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Moderate Buy” and a consensus target price of $53.83.
Insider Buying and Selling
In related news, COO David Weinberg sold 8,403 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total transaction of $355,362.87. Following the sale, the chief operating officer now directly owns 124,419 shares in the company, valued at $5,261,679.51. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Michael Greenberg sold 10,503 shares of Skechers U.S.A. stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total transaction of $444,171.87. Following the completion of the sale, the president now owns 427,080 shares of the company’s stock, valued at approximately $18,061,213.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO David Weinberg sold 8,403 shares of Skechers U.S.A. stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $42.29, for a total transaction of $355,362.87. Following the sale, the chief operating officer now directly owns 124,419 shares of the company’s stock, valued at approximately $5,261,679.51. The disclosure for this sale can be found here. Insiders have sold a total of 19,467 shares of company stock worth $823,618 over the last ninety days. Company insiders own 24.44% of the company’s stock.
Institutional Trading of Skechers U.S.A.
Several hedge funds and other institutional investors have recently bought and sold shares of SKX. Thrivent Financial for Lutherans boosted its stake in Skechers U.S.A. by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 35,699 shares of the textile maker’s stock worth $1,132,000 after acquiring an additional 312 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in Skechers U.S.A. by 1.0% during the third quarter. Malaga Cove Capital LLC now owns 35,979 shares of the textile maker’s stock worth $1,141,000 after buying an additional 350 shares during the last quarter. Bfsg LLC raised its holdings in Skechers U.S.A. by 5.8% during the second quarter. Bfsg LLC now owns 7,063 shares of the textile maker’s stock worth $251,000 after buying an additional 385 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Skechers U.S.A. by 1.1% during the third quarter. Oregon Public Employees Retirement Fund now owns 39,352 shares of the textile maker’s stock worth $1,248,000 after buying an additional 423 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in Skechers U.S.A. by 0.5% during the third quarter. Amalgamated Bank now owns 97,346 shares of the textile maker’s stock worth $3,088,000 after buying an additional 449 shares during the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.
Skechers U.S.A. Stock Performance
The company has a debt-to-equity ratio of 0.06, a current ratio of 2.27 and a quick ratio of 1.14. The company’s fifty day simple moving average is $43.85 and its two-hundred day simple moving average is $39.35. The stock has a market cap of $7.24 billion, a price-to-earnings ratio of 11.03 and a beta of 1.30.
Skechers U.S.A. (NYSE:SKX – Get Rating) last released its quarterly earnings data on Thursday, February 2nd. The textile maker reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.10. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.77 billion. Skechers U.S.A. had a net margin of 9.70% and a return on equity of 10.03%. The business’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share. On average, analysts forecast that Skechers U.S.A., Inc. will post 2.28 earnings per share for the current year.
About Skechers U.S.A.
Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.