Skechers U.S.A. (NYSE:SKX) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Skechers U.S.A. (NYSE:SKX) in a research note issued to investors on Wednesday morning. The brokerage issued a sell rating on the textile maker’s stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley reissued an “equal weight” rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Evercore ISI dropped their target price on shares of Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company lifted their price objective on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Barclays reaffirmed an “equal weight” rating and issued a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Finally, Stifel Nicolaus lowered their target price on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. presently has an average rating of “Hold” and a consensus price target of $70.00.

Skechers U.S.A. Stock Up 0.0%

Shares of SKX stock opened at $62.10 on Wednesday. The firm has a market capitalization of $9.29 billion, a P/E ratio of 14.96, a PEG ratio of 1.11 and a beta of 1.06. The firm’s fifty day moving average price is $53.86 and its two-hundred day moving average price is $62.10. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a 1 year low of $44.50 and a 1 year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business earned $1.33 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts predict that Skechers U.S.A. will post 4.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO John M. Vandemore sold 5,112 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares in the company, valued at $5,063,009.28. This trade represents a 5.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Michael Greenberg sold 33,656 shares of the business’s 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 completion of the sale, the president now owns 137,530 shares in the company, valued at approximately $8,356,322.80. The trade was a 19.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,645 shares of company stock valued at $7,895,910 in the last three months. 24.78% of the stock is currently owned by insiders.

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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SKX. Raymond James Financial Inc. purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at $12,852,000. Schroder Investment Management Group raised its stake in Skechers U.S.A. by 11.3% in the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker’s stock valued at $12,010,000 after purchasing an additional 18,024 shares in the last quarter. Hudson Bay Capital Management LP bought a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $5,804,000. Frontier Capital Management Co. LLC bought a new position in shares of Skechers U.S.A. in the 4th quarter worth $17,589,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Skechers U.S.A. by 15.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker’s stock valued at $8,069,000 after buying an additional 15,874 shares in 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.