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 an average rating of “Moderate Buy” from the fourteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $70.00.

Several brokerages recently issued reports on SKX. Barclays reissued an “equal weight” rating and issued a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Wells Fargo & Company raised their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. UBS Group restated a “neutral” rating and set a $63.00 price target (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Bank of America dropped their price objective 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. Finally, StockNews.com initiated coverage on shares of Skechers U.S.A. in a research note on Wednesday, May 14th. They set a “sell” rating for the company.

Skechers U.S.A. Trading Up 0.2%

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 firm’s 50-day moving average is $54.10 and its 200-day moving average is $62.10. 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 company has a market cap of $9.28 billion, a P/E ratio of 14.95, a PEG ratio of 1.11 and a beta of 1.06.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the company posted $1.33 earnings per share. Skechers U.S.A.’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current year.

Insider Buying and Selling

In other news, COO David Weinberg sold 26,913 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 value of $1,635,233.88. Following the completion of the sale, the chief operating officer now owns 44,637 shares of the company’s stock, valued at $2,712,144.12. This trade represents a 37.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Michael Greenberg sold 33,656 shares of Skechers U.S.A. stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $2,044,938.56. Following the transaction, the president now owns 137,530 shares in the company, valued at $8,356,322.80. This represents a 19.66% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,599 shares of company stock valued at $7,099,910. 24.78% of the stock is owned by corporate insiders.

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

Several institutional investors have recently made changes to their positions in SKX. Fiduciary Financial Group LLC bought a new position in Skechers U.S.A. during the fourth quarter valued at approximately $298,000. Assenagon Asset Management S.A. grew its position in Skechers U.S.A. by 15.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock worth $8,069,000 after acquiring an additional 15,874 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Skechers U.S.A. by 13.0% during the 4th quarter. Park Avenue Securities LLC now owns 16,830 shares of the textile maker’s stock worth $1,132,000 after purchasing an additional 1,933 shares during the last quarter. Morton Capital Management LLC CA acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth $2,305,000. Finally, HB Wealth Management LLC bought a new position in shares of Skechers U.S.A. during the 4th quarter valued at $265,000. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.