Stifel Nicolaus Has Lowered Expectations for Skechers U.S.A. (NYSE:SKX) Stock Price

Skechers U.S.A. (NYSE:SKX) had its price objective cut by Stifel Nicolaus from $80.00 to $62.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the textile maker’s stock.

A number of other research firms have also issued reports on SKX. UBS Group decreased their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. Barclays decreased their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Bank of America cut their price objective on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a research report on Monday, March 24th. Evercore ISI upped their target price on shares of 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, Raymond James cut 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. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.92.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $49.47 on Thursday. The company has a 50-day moving average price of $58.55 and a two-hundred day moving average price of $63.99. Skechers U.S.A. has a twelve month low of $44.50 and a twelve month high of $78.85. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $7.39 billion, a PE ratio of 11.92, a P/E/G 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 analysts forecast that Skechers U.S.A. will post 4.47 EPS for the current year.

Insider Buying and Selling

In related news, 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 trade represents a 19.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Phillip Paccione sold 10,994 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total transaction of $622,590.22. Following the sale, the general counsel now owns 15,000 shares of the company’s stock, valued at approximately $849,450. The trade was a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock worth $13,452,902 in the last quarter. 24.75% of the stock is owned by insiders.

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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC lifted its position in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its stake in shares of Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after buying an additional 358 shares during the period. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. during the 4th quarter valued at $32,000. Parallel Advisors LLC boosted its position in Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after buying an additional 399 shares during the period. Finally, UMB Bank n.a. grew its holdings in Skechers U.S.A. by 53.1% in the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock worth $46,000 after acquiring an additional 239 shares during the last quarter. 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.