Barclays Lowers Skechers U.S.A. (NYSE:SKX) Price Target to $53.00

Skechers U.S.A. (NYSE:SKX - Get Free Report) had its price objective dropped by analysts at Barclays from $77.00 to $53.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the textile maker's stock. Barclays's price target would indicate a potential upside of 10.26% from the company's previous close.

Several other equities analysts have also recently commented on the company. Monness Crespi & Hardt cut their price target on Skechers U.S.A. from $85.00 to $70.00 and set a "buy" rating for the company in a report on Friday. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Evercore ISI lowered their price objective on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, UBS Group decreased their price target on Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $71.62.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX traded up $0.28 during trading on Friday, reaching $48.07. The stock had a trading volume of 3,901,690 shares, compared to its average volume of 2,285,140. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 1.11 and a beta of 1.08. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a 52 week low of $44.50 and a 52 week high of $78.85. The stock has a fifty day simple moving average of $54.81 and a two-hundred day simple moving average of $62.65.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS 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 company had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the company earned $1.33 earnings per share. The company's quarterly revenue was up 7.1% compared to the same quarter last year. As a group, 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 other Skechers U.S.A. news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares in the company, valued at approximately $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now owns 83,328 shares in the company, valued at approximately $5,063,009.28. This represents a 5.78 % 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 over the last ninety days. Company insiders own 24.78% of the company's stock.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of SKX. NewEdge Advisors LLC grew its position in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. during the fourth quarter valued at approximately $32,000. Parallel Advisors LLC grew its stake in Skechers U.S.A. by 183.0% in the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after purchasing an additional 399 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Skechers U.S.A. during the 1st quarter worth approximately $35,000. Institutional investors and hedge funds 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.