Skechers U.S.A. (NYSE:SKX) Given New $64.00 Price Target at UBS Group

Skechers U.S.A. (NYSE:SKX) had its price objective lowered by UBS Group from $65.00 to $64.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus decreased their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Raymond James reduced their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Barclays cut their price objective on shares of Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. TD Cowen raised their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Finally, Bank of America cut their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 24th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $76.75.

Skechers U.S.A. Stock Performance

SKX stock opened at $49.10 on Monday. The business’s fifty day moving average is $58.05 and its 200-day moving average is $63.82. The company has a market cap of $7.33 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a twelve month low of $44.50 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data 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 return on equity of 13.73% and a net margin of 7.13%. Equities research analysts forecast that Skechers U.S.A. will post 4.47 EPS for the current year.

Insider Activity

In other Skechers U.S.A. news, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the completion of the sale, the executive vice president now owns 25,675 shares of the company’s stock, valued at approximately $1,696,604. The trade was a 31.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of the company’s stock in a transaction that occurred on 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 directly owns 15,000 shares of the company’s stock, valued at approximately $849,450. This represents a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 218,245 shares of company stock worth $13,452,902 in the last quarter. 24.75% of the stock is owned by company insiders.

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

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Barden Capital Management Inc. purchased a new stake in shares of Skechers U.S.A. in the first quarter worth approximately $899,000. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 120.3% during the first quarter. UMB Bank n.a. now owns 1,518 shares of the textile maker’s stock valued at $86,000 after purchasing an additional 829 shares during the period. Sendero Wealth Management LLC increased its stake in Skechers U.S.A. by 35.7% in the 1st quarter. Sendero Wealth Management LLC now owns 16,483 shares of the textile maker’s stock worth $936,000 after buying an additional 4,332 shares during the period. Cascade Investment Advisors Inc. lifted its holdings in Skechers U.S.A. by 4.1% during the 1st quarter. Cascade Investment Advisors Inc. now owns 25,925 shares of the textile maker’s stock valued at $1,472,000 after buying an additional 1,025 shares in the last quarter. Finally, Delphi Management Inc. MA boosted its position in Skechers U.S.A. by 1.0% in the 1st quarter. Delphi Management Inc. MA now owns 22,797 shares of the textile maker’s stock valued at $1,294,000 after buying an additional 236 shares during the period. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.