Monness Crespi & Hardt Has Lowered Expectations for Skechers U.S.A. (NYSE:SKX) Stock Price

Skechers U.S.A. (NYSE:SKX - Free Report) had its price target trimmed by Monness Crespi & Hardt from $85.00 to $70.00 in a research report released on Friday, Marketbeat Ratings reports. The brokerage currently has a buy rating on the textile maker's stock.

Other equities analysts have also recently issued research reports about the company. Bank of America dropped their price target on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Monday, March 24th. StockNews.com cut Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. Stifel Nicolaus dropped their target price on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Barclays dropped their target price on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Finally, Raymond James dropped their target price on Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $71.62.

Skechers U.S.A. Trading Up 0.6 %

NYSE:SKX traded up $0.28 on Friday, hitting $48.07. The stock had a trading volume of 3,901,690 shares, compared to its average volume of 2,285,140. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $7.18 billion, a price-to-earnings ratio of 11.58, a PEG ratio of 1.11 and a beta of 1.08. The company has a fifty day moving average price of $54.81 and a two-hundred day moving average price of $62.65. 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 - Get Free Report) last released its 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 firm 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%. Skechers U.S.A.'s revenue was up 7.1% compared to the same quarter last year. During the same period last year, the business posted $1.33 earnings per share. Equities research analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total value of $795,999.68. Following the sale, the executive vice president now directly owns 25,675 shares in the company, valued at $1,696,604. This trade represents a 31.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO David Weinberg sold 36,000 shares of Skechers U.S.A. stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $2,257,920.00. Following the completion of the sale, the chief operating officer now owns 54,499 shares in the company, valued at approximately $3,418,177.28. This represents a 39.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 218,245 shares of company stock worth $13,452,902. 24.78% of the stock is currently owned by insiders.

Institutional Trading of Skechers U.S.A.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Skechers U.S.A. in the fourth quarter worth approximately $12,852,000. Schroder Investment Management Group grew its position in shares of 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 during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Skechers U.S.A. by 15.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock valued at $8,069,000 after purchasing an additional 15,874 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $2,752,000. Finally, Delphi Management Inc. MA acquired a new stake in Skechers U.S.A. during the fourth quarter worth about $1,517,000. 79.96% of the stock is currently owned by 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.