Barclays Issues Pessimistic Forecast for Skechers U.S.A. (NYSE:SKX) Stock Price

Skechers U.S.A. (NYSE:SKX - Get Free Report) had its price target dropped by investment analysts at Barclays from $80.00 to $77.00 in a report issued on Monday,Benzinga reports. The firm presently has an "overweight" rating on the textile maker's stock. Barclays's price objective indicates a potential upside of 21.16% from the company's previous close.

Several other research firms have also weighed in on SKX. UBS Group lowered their price target on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday. Bank of America decreased their target price on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. Morgan Stanley lifted their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. TD Cowen increased their target price on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $81.25.

Skechers U.S.A. Trading Down 2.4 %

SKX traded down $1.56 during midday trading on Monday, reaching $63.55. 2,124,636 shares of the company were exchanged, compared to its average volume of 2,425,398. Skechers U.S.A. has a one year low of $55.67 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The stock has a market capitalization of $9.59 billion, a P/E ratio of 15.29, a PEG ratio of 0.95 and a beta of 1.19. The stock's 50-day simple moving average is $70.54 and its 200 day simple moving average is $66.51.

Skechers U.S.A. (NYSE:SKX - Get Free Report) 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 net margin of 7.13% and a return on equity of 13.81%. As a group, analysts forecast that Skechers U.S.A. will post 4.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the sale, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David Weinberg sold 8,219 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the sale, the chief operating officer now owns 122,211 shares of the company's stock, valued at $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company's stock.

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

Several hedge funds and other institutional investors have recently modified their holdings of SKX. Spire Wealth Management boosted its position in shares of Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker's stock worth $100,000 after purchasing an additional 155 shares during the period. 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 worth $1,228,000 after buying an additional 157 shares during the period. Lindenwold Advisors INC increased its stake in Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker's stock worth $446,000 after buying an additional 195 shares in the last quarter. Independent Advisor Alliance raised its holdings in Skechers U.S.A. by 4.7% during 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 period. Finally, Blue Trust Inc. boosted its stake in shares of Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after acquiring an additional 207 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

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.