Raymond James Issues Pessimistic Forecast for Skechers U.S.A. (NYSE:SKX) Stock Price

Skechers U.S.A. (NYSE:SKX) had its price objective dropped by analysts at Raymond James from $80.00 to $75.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the textile maker’s stock. Raymond James’ price objective would suggest a potential upside of 13.24% from the stock’s previous close.

Other equities analysts also recently issued research reports about the company. Barclays increased their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Morgan Stanley increased their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Evercore ISI lifted their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Finally, StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. has an average rating of “Moderate Buy” and an average target price of $81.50.

Skechers U.S.A. Stock Down 12.4 %

Shares of SKX traded down $9.39 during trading hours on Friday, hitting $66.23. The company had a trading volume of 5,414,553 shares, compared to its average volume of 2,076,590. The company has a market capitalization of $10.00 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.92 and a beta of 1.19. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a one year low of $55.67 and a one year high of $78.85. The company’s fifty day moving average price is $70.51 and its two-hundred day moving average price is $66.46.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. As a group, equities analysts forecast that Skechers U.S.A. will post 4.24 earnings per share for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was a 6.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the sale, the president now directly owns 149,327 shares in the company, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders own 24.75% of the company’s stock.

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

Several institutional investors have recently modified their holdings of SKX. HM Payson & Co. purchased a new stake in Skechers U.S.A. in the 4th quarter valued at approximately $417,000. Edgestream Partners L.P. lifted its stake in Skechers U.S.A. by 816.1% in the 4th quarter. Edgestream Partners L.P. now owns 80,273 shares of the textile maker’s stock valued at $5,398,000 after buying an additional 71,511 shares in the last quarter. Jackson Creek Investment Advisors LLC raised its holdings in Skechers U.S.A. by 11.0% in the 4th quarter. Jackson Creek Investment Advisors LLC now owns 5,536 shares of the textile maker’s stock valued at $372,000 after acquiring an additional 548 shares during the last quarter. Inceptionr LLC purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth $705,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Skechers U.S.A. during the 4th quarter worth $12,852,000. Hedge funds and other institutional investors 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.