Skechers U.S.A., Inc. (NYSE:SKX) Given Average Rating of “Moderate Buy” by Brokerages

Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) has been given a consensus rating of “Buy” by the twelve brokerages that are currently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $56.27.

Several analysts have commented on SKX shares. UBS Group lowered their price objective on shares of Skechers U.S.A. from $69.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, March 29th. StockNews.com started coverage on shares of Skechers U.S.A. in a research report on Thursday. They issued a “buy” rating on the stock. Wedbush lifted their price objective on shares of Skechers U.S.A. from $54.00 to $58.00 in a research report on Friday, April 28th. Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $46.00 to $48.00 in a research report on Friday, April 28th. Finally, Piper Sandler lifted their price objective on shares of Skechers U.S.A. from $47.00 to $52.00 in a research report on Friday, April 28th.

Insiders Place Their Bets

In other Skechers U.S.A. news, Director Katherine J. Blair sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $52.70, for a total value of $184,450.00. Following the completion of the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $368,900. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Richard Siskind sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $53.68, for a total value of $1,073,600.00. Following the completion of the sale, the director now directly owns 152,999 shares in the company, valued at approximately $8,212,986.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Katherine J. Blair sold 3,500 shares of the company’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $52.70, for a total transaction of $184,450.00. Following the sale, the director now owns 7,000 shares of the company’s stock, valued at $368,900. The disclosure for this sale can be found here. Insiders sold a total of 101,805 shares of company stock valued at $4,806,675 in the last quarter. Corporate insiders own 24.44% of the company’s stock.

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

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. bought a new position in Skechers U.S.A. in the 1st quarter worth $25,000. Fred Alger Management LLC purchased a new stake in Skechers U.S.A. during the 1st quarter valued at about $26,000. Quent Capital LLC boosted its holdings in shares of Skechers U.S.A. by 122.4% during the 1st quarter. Quent Capital LLC now owns 585 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 322 shares during the last quarter. Spire Wealth Management lifted its stake in shares of Skechers U.S.A. by 133.6% in the 1st quarter. Spire Wealth Management now owns 785 shares of the textile maker’s stock worth $37,000 after purchasing an additional 449 shares during the period. Finally, Belpointe Asset Management LLC lifted its stake in shares of Skechers U.S.A. by 100.7% in the 1st quarter. Belpointe Asset Management LLC now owns 913 shares of the textile maker’s stock worth $43,000 after purchasing an additional 458 shares during the period. 93.29% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Down 3.9 %

SKX opened at $51.94 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.43. The company’s 50-day moving average is $48.85 and its 200 day moving average is $45.04. Skechers U.S.A. has a fifty-two week low of $31.28 and a fifty-two week high of $54.77. The firm has a market capitalization of $8.04 billion, a P/E ratio of 19.75 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The textile maker reported $1.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.41. Skechers U.S.A. had a net margin of 5.41% and a return on equity of 10.72%. The company had revenue of $2 billion for the quarter, compared to analyst estimates of $1.84 billion. Research analysts expect that Skechers U.S.A. will post 3.14 earnings per share for the current fiscal year.

About Skechers U.S.A.

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Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the Wholesale and Direct-to-Consumer segment. The Wholesale segment includes department stores, family shoe stores, specialty running, and sporting goods retailers.