Skechers U.S.A., Inc. (NYSE:SKX) Given Consensus Rating of “Moderate Buy” by Brokerages

Skechers U.S.A., Inc. (NYSE:SKX) has received a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $66.58.

A number of brokerages recently issued reports on SKX. Bank of America began coverage on Skechers U.S.A. in a research note on Friday, March 8th. They set a “neutral” rating and a $67.00 price target for the company. Raymond James decreased their price target on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Barclays began coverage on Skechers U.S.A. in a research note on Monday, April 1st. They set an “overweight” rating and a $71.00 price target for the company. Wedbush decreased their price target on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, February 2nd. Finally, Monness Crespi & Hardt raised their price target on Skechers U.S.A. from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $58.23 on Tuesday. Skechers U.S.A. has a 12-month low of $45.58 and a 12-month high of $65.17. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $60.15 and a 200-day moving average price of $57.19. The firm has a market capitalization of $8.93 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.05 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.04. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. As a group, equities research analysts forecast that Skechers U.S.A. will post 3.82 EPS for the current year.

Insider Activity

In related news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the completion of the sale, the chief operating officer now directly owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert Greenberg sold 99,139 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the transaction, the chief executive officer now owns 196,050 shares in the company, valued at approximately $11,345,413.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO David Weinberg sold 67,390 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The disclosure for this sale can be found here. In the last three months, insiders have sold 254,875 shares of company stock worth $15,021,192. 24.79% of the stock is currently owned by company insiders.

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

Large investors have recently made changes to their positions in the business. American Century Companies Inc. grew its stake in Skechers U.S.A. by 10.8% during the 1st quarter. American Century Companies Inc. now owns 16,901 shares of the textile maker’s stock worth $689,000 after buying an additional 1,654 shares during the last quarter. US Bancorp DE grew its stake in shares of Skechers U.S.A. by 71.1% during the first quarter. US Bancorp DE now owns 2,416 shares of the textile maker’s stock worth $98,000 after acquiring an additional 1,004 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Skechers U.S.A. by 11.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,413 shares of the textile maker’s stock worth $260,000 after acquiring an additional 663 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of Skechers U.S.A. by 8.6% during the first quarter. Bank of Montreal Can now owns 12,534 shares of the textile maker’s stock valued at $519,000 after acquiring an additional 990 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Skechers U.S.A. by 34.4% in the 1st quarter. MetLife Investment Management LLC now owns 87,839 shares of the textile maker’s stock worth $3,580,000 after purchasing an additional 22,464 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

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.