Skechers U.S.A., Inc. (NYSE:SKX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have earned a consensus recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $66.58.

A number of research analysts have issued reports on the company. Evercore ISI assumed coverage on Skechers U.S.A. in a report on Thursday, February 15th. They set an “outperform” rating and a $73.00 price objective for the company. Stifel Nicolaus decreased their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. Monness Crespi & Hardt boosted their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Wedbush dropped their price objective on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating on the stock in a research note on Friday, February 2nd. Finally, Raymond James dropped their price target on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th.

Skechers U.S.A. Price Performance

NYSE SKX opened at $56.49 on Tuesday. The company has a 50 day simple moving average of $59.76 and a 200-day simple moving average of $57.53. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. The firm has a market capitalization of $8.66 billion, a price-to-earnings ratio of 16.19, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. Skechers U.S.A. has a 52-week low of $45.58 and a 52-week high of $65.17.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter last year, the firm earned $0.48 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts predict that Skechers U.S.A. will post 3.82 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the sale, the chief operating officer now owns 141,405 shares in the company, valued at $8,183,107.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the transaction, the chief executive officer now owns 196,050 shares of the company’s stock, valued at approximately $11,345,413.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David Weinberg sold 67,390 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 254,875 shares of company stock worth $15,021,192. 24.79% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Skechers U.S.A.

A number of institutional investors have recently added to or reduced their stakes in SKX. American Century Companies Inc. increased its stake in Skechers U.S.A. by 10.8% in the 1st quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock worth $689,000 after acquiring an additional 1,654 shares during the last quarter. US Bancorp DE increased its stake in Skechers U.S.A. by 71.1% in the 1st quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock worth $98,000 after acquiring an additional 1,004 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Skechers U.S.A. by 11.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock worth $260,000 after acquiring an additional 663 shares during the last quarter. Bank of Montreal Can increased its position in shares of Skechers U.S.A. by 8.6% during the 1st quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock valued at $519,000 after purchasing an additional 990 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in shares of Skechers U.S.A. by 34.4% during the 1st quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock valued at $3,580,000 after purchasing an additional 22,464 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors.

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.