Skechers U.S.A. (NYSE:SKX) Earns Hold Rating from Needham & Company LLC

Skechers U.S.A. (NYSE:SKX)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports.

Several other equities research analysts have also commented on SKX. TD Cowen boosted their price target 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. Bank of America reduced their price target on 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. Stifel Nicolaus dropped their price objective on 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 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. Finally, Barclays decreased their target price 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $74.67.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $48.89 on Tuesday. The firm’s 50 day simple moving average is $55.47 and its 200-day simple moving average is $62.94. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. Skechers U.S.A. has a one year low of $44.50 and a one year high of $78.85. The firm has a market cap of $7.30 billion, a PE ratio of 11.78, a price-to-earnings-growth 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%. As a group, equities analysts predict that Skechers U.S.A. will post 4.47 EPS for the current year.

Insider Activity

In other Skechers U.S.A. news, CEO Robert Greenberg sold 40,924 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $2,486,542.24. Following the completion of the transaction, the chief executive officer now owns 51,342 shares of the company’s stock, valued at $3,119,539.92. This represents a 44.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares in the company, valued at $849,450. This represents a 42.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 in the last ninety days. Company insiders own 24.75% of the company’s stock.

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

A number of large investors have recently modified their holdings of SKX. Spire Wealth Management raised its holdings in Skechers U.S.A. by 11.6% in the 4th quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 155 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in Skechers U.S.A. by 0.9% in the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after purchasing an additional 157 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Skechers U.S.A. by 1.2% during the 4th quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock worth $947,000 after buying an additional 172 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after buying an additional 190 shares during the period. Finally, Independent Advisor Alliance lifted its holdings in Skechers U.S.A. by 4.7% in the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock valued at $302,000 after acquiring an additional 200 shares during the last quarter. 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.