Skechers U.S.A., Inc. (NYSE:SKX) Receives $74.67 Average Target Price from Analysts

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the thirteen research firms that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $74.67.

Several analysts recently commented on the stock. Bank of America decreased their price target on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating for the company in a report on Monday, March 24th. UBS Group decreased their price target on shares of Skechers U.S.A. from $65.00 to $64.00 and set a "buy" rating for the company in a report on Monday, April 14th. Stifel Nicolaus decreased their price target on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Evercore ISI decreased their price target on shares of Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Raymond James decreased their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, February 7th.

Skechers U.S.A. Trading Up 6.3 %

Shares of SKX traded up $3.03 during midday trading on Friday, hitting $51.06. The stock had a trading volume of 214,404 shares, compared to its average volume of 2,252,608. Skechers U.S.A. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The business has a 50-day simple moving average of $55.77 and a two-hundred day simple moving average of $63.03. The firm has a market cap of $7.63 billion, a P/E ratio of 12.30, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. As a group, equities analysts forecast that Skechers U.S.A. will post 4.47 EPS for the current year.

Insider Transactions at Skechers U.S.A.

In other news, CEO Robert Greenberg sold 52,600 shares of the firm's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the sale, the chief executive officer now owns 61,367 shares of the company's stock, valued at $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 available through this hyperlink. Also, General Counsel Phillip Paccione sold 10,994 shares of Skechers U.S.A. stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the completion of the sale, the general counsel now directly owns 15,000 shares in the company, valued at approximately $849,450. This represents a 42.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 218,245 shares of company stock valued at $13,452,902 over the last 90 days. 24.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Skechers U.S.A. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock valued at $843,474,000 after purchasing an additional 82,143 shares in the last quarter. Anomaly Capital Management LP raised its holdings in Skechers U.S.A. by 51.2% during the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after purchasing an additional 1,011,815 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Skechers U.S.A. by 70.4% during the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after purchasing an additional 953,528 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Skechers U.S.A. by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock valued at $154,361,000 after acquiring an additional 78,071 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Skechers U.S.A. by 19.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock valued at $148,743,000 after acquiring an additional 357,681 shares in the last quarter. 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.