Skechers U.S.A. (NYSE:SKX) Earns Sell Rating from Analysts at StockNews.com

Stock analysts at StockNews.com started coverage on shares of Skechers U.S.A. (NYSE:SKX) in a research report issued to clients and investors on Thursday. The firm set a “sell” rating on the textile maker’s stock.

Other equities research analysts have also issued reports about the company. Barclays restated an “equal weight” rating and issued a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Morgan Stanley restated an “equal weight” rating and issued a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Monness Crespi & Hardt lowered Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Finally, Bank of America lowered their price objective 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of “Hold” and an average target price of $70.00.

Skechers U.S.A. Price Performance

SKX stock opened at $62.05 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. The business has a 50 day simple moving average of $54.21 and a 200-day simple moving average of $62.10. The firm has a market capitalization of $9.28 billion, a PE ratio of 14.95, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. 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 posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 earnings per share. Equities research analysts anticipate that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In related news, General Counsel Phillip Paccione sold 10,994 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO David Weinberg sold 26,913 shares of the company’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 $1,635,233.88. Following the completion of the transaction, the chief operating officer now owns 44,637 shares of the company’s stock, valued at $2,712,144.12. The trade was a 37.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,599 shares of company stock valued at $7,099,910. 24.78% of the stock is owned by corporate insiders.

Institutional Trading of Skechers U.S.A.

Institutional investors and hedge funds have recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Skechers U.S.A. by 15,774.3% in the 1st quarter. Victory Capital Management Inc. now owns 3,949,844 shares of the textile maker’s stock valued at $224,272,000 after purchasing an additional 3,924,962 shares in the last quarter. Norges Bank acquired a new stake in shares of Skechers U.S.A. during the fourth quarter valued at about $105,741,000. Duquesne Family Office LLC purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth about $72,272,000. Two Sigma Investments LP increased its position in shares of Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock worth $79,107,000 after acquiring an additional 1,041,677 shares during the last quarter. Finally, Anomaly Capital Management LP increased its position in shares of Skechers U.S.A. by 51.2% during the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock worth $200,981,000 after acquiring an additional 1,011,815 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

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.