Phillip Paccione Sells 423 Shares of Skechers U.S.A., Inc. (NYSE:SKX) Stock

Skechers U.S.A., Inc. (NYSE:SKXGet Free Report) General Counsel Phillip Paccione sold 423 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total transaction of $29,377.35. Following the transaction, the general counsel now owns 35,000 shares in the company, valued at $2,430,750. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Skechers U.S.A. Stock Up 2.5 %

SKX stock opened at $72.86 on Friday. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $73.84. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11.11 billion, a P/E ratio of 19.17, a PEG ratio of 1.24 and a beta of 1.28. The firm has a 50 day simple moving average of $64.44 and a 200-day simple moving average of $62.06.

Skechers U.S.A. (NYSE:SKXGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter last year, the company earned $1.02 earnings per share. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. On average, equities research analysts predict that Skechers U.S.A., Inc. will post 4.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wedbush restated an “outperform” rating and issued a $76.00 price target on shares of Skechers U.S.A. in a report on Friday, May 17th. Evercore ISI cut their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, April 17th. Bank of America upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and raised their price target for the company from $71.00 to $87.00 in a report on Friday. TD Cowen raised their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Finally, Barclays began coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They issued an “overweight” rating and a $71.00 price target on the stock. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.42.

Read Our Latest Stock Analysis on SKX

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

Hedge funds have recently added to or reduced their stakes in the business. Redmont Wealth Advisors LLC acquired a new position in Skechers U.S.A. in the first quarter worth $25,000. Bessemer Group Inc. boosted its holdings in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after purchasing an additional 164 shares during the period. GAMMA Investing LLC acquired a new position in Skechers U.S.A. in the fourth quarter worth $36,000. Huntington National Bank boosted its holdings in Skechers U.S.A. by 861.7% in the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after purchasing an additional 517 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in Skechers U.S.A. in the third quarter worth $31,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

About Skechers U.S.A.

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Skechers U.S.A. (NYSE:SKX)

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