Skechers U.S.A., Inc. (NYSE:SKX) Receives $78.42 Average Price Target from Brokerages

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen analysts that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $78.42.

Several brokerages have weighed in on SKX. StockNews.com upgraded Skechers U.S.A. from a "hold" rating to a "buy" rating in a report on Thursday, December 19th. TD Cowen boosted their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They set a "hold" rating on the stock. Finally, Barclays boosted their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th.

Insider Activity at Skechers U.S.A.

In related news, COO David Weinberg sold 8,219 shares of the firm'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 completion of the transaction, the chief operating officer now owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the president now directly owns 149,327 shares of the company's stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Skechers U.S.A.

Institutional investors have recently bought and sold shares of the business. UMB Bank n.a. raised its holdings in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock worth $30,000 after purchasing an additional 364 shares during the last quarter. Venturi Wealth Management LLC grew its position in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after purchasing an additional 299 shares during the period. Brooklyn Investment Group purchased a new position in shares of Skechers U.S.A. during the 3rd quarter valued at about $67,000. Blue Trust Inc. lifted its holdings in shares of Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $69,000 after buying an additional 887 shares during the period. Finally, Quarry LP lifted its holdings in shares of Skechers U.S.A. by 44.6% in the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker's stock valued at $82,000 after buying an additional 366 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Down 1.0 %

NYSE:SKX traded down $0.67 during mid-day trading on Thursday, hitting $69.23. 1,484,576 shares of the stock traded hands, compared to its average volume of 1,443,071. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a 52 week low of $55.67 and a 52 week high of $75.09. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 17.05, a PEG ratio of 0.98 and a beta of 1.19. The firm's 50 day moving average is $65.89 and its two-hundred day moving average is $65.68.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.93 earnings per share. On average, equities research analysts predict that Skechers U.S.A. will post 4.24 earnings per share for the current year.

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.