Skechers U.S.A. (NYSE:SKX) Given New $62.00 Price Target at Stifel Nicolaus

Skechers U.S.A. (NYSE:SKX) had its price objective decreased by Stifel Nicolaus from $80.00 to $62.00 in a research note published on Thursday morning,Benzinga reports. Stifel Nicolaus currently has a buy rating on the textile maker’s stock.

SKX has been the subject of several other research reports. Barclays dropped their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Bank of America reduced their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a report on Monday, March 24th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Evercore ISI lifted their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, TD Cowen increased their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.92.

Skechers U.S.A. Trading Down 2.6 %

NYSE SKX opened at $49.26 on Thursday. The business’s fifty day moving average is $59.04 and its 200-day moving average is $64.11. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A. has a one year low of $44.50 and a one year high of $78.85. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Equities research analysts predict that Skechers U.S.A. will post 4.47 EPS for the current year.

Insider Activity

In other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the transaction, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO David Weinberg sold 36,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $2,257,920.00. Following the completion of the sale, the chief operating officer now owns 54,499 shares in the company, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 218,245 shares of company stock worth $13,452,902. 24.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Skechers U.S.A.

A number of hedge funds and other institutional investors have recently made changes to their positions in SKX. Vanguard Group Inc. grew its stake in shares of Skechers U.S.A. by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker’s stock worth $843,474,000 after acquiring an additional 82,143 shares in the last quarter. Anomaly Capital Management LP raised its position in Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock valued at $200,981,000 after purchasing an additional 1,011,815 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Skechers U.S.A. by 70.4% during the fourth quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock worth $155,209,000 after buying an additional 953,528 shares during the period. Geode Capital Management LLC grew its stake in shares of Skechers U.S.A. by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker’s stock valued at $154,361,000 after purchasing an additional 78,071 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Skechers U.S.A. by 19.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker’s stock worth $148,743,000 after buying an additional 357,681 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Company Profile

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.