Skechers U.S.A. (NYSE:SKX) Given New $75.00 Price Target at Raymond James

Skechers U.S.A. (NYSE:SKX - Free Report) had its price objective lowered by Raymond James from $80.00 to $75.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the textile maker's stock.

Several other analysts have also recently commented on the company. UBS Group dropped their price target on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research report on Friday. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Friday. Stifel Nicolaus dropped their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research note on Friday. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 target price on the stock. Finally, Barclays upped their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $81.50.

Skechers U.S.A. Price Performance

SKX stock traded down $9.56 during mid-day trading on Friday, reaching $66.06. 10,536,456 shares of the company's stock were exchanged, compared to its average volume of 1,980,609. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The stock's 50 day moving average is $70.55 and its 200 day moving average is $66.48. Skechers U.S.A. has a 12-month low of $55.67 and a 12-month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted 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%. On average, research analysts expect that Skechers U.S.A. will post 4.79 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Skechers U.S.A.

Large investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its holdings in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock valued at $176,628,000 after purchasing an additional 2,594,507 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock valued at $155,209,000 after acquiring an additional 953,528 shares during the last quarter. Geode Capital Management LLC lifted its stake in Skechers U.S.A. by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,216,905 shares of the textile maker's stock worth $148,395,000 after purchasing an additional 11,026 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Skechers U.S.A. by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock valued at $88,126,000 after purchasing an additional 17,429 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Skechers U.S.A. by 39.0% during the third quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock worth $68,630,000 after purchasing an additional 287,939 shares in the last quarter. 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.