Skechers U.S.A. (NYSE:SKX) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Skechers U.S.A. (NYSE:SKX) in a research report released on Tuesday morning,Benzinga reports.

A number of other equities analysts have also recently commented on SKX. Evercore ISI decreased their price target on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Raymond James lowered their price target on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, February 7th. Bank of America cut their price target 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. Finally, Stifel Nicolaus cut their target price on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $74.67.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $48.04 on Tuesday. 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 current ratio of 1.97 and a quick ratio of 1.12. The business has a 50 day moving average of $55.77 and a 200 day moving average of $63.03. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 1.11 and a beta of 1.08.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. On average, sell-side analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, 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 completion of the transaction, the chief financial officer now owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. This trade represents a 5.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Robert Greenberg sold 52,600 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 61,367 shares in the company, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SKX. Raymond James Financial Inc. bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at approximately $12,852,000. Schroder Investment Management Group increased its position in Skechers U.S.A. by 11.3% during the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock valued at $12,010,000 after buying an additional 18,024 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after buying an additional 15,874 shares during the last quarter. Nordea Investment Management AB bought a new stake in Skechers U.S.A. in the fourth quarter worth $2,752,000. Finally, Delphi Management Inc. MA purchased a new stake in shares of Skechers U.S.A. in the fourth quarter worth $1,517,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

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.