Analysts Set Skechers U.S.A., Inc. (NYSE:SKX) PT at $80.42

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has received a consensus rating of "Moderate Buy" from the thirteen research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $80.42.

SKX has been the topic of a number of research analyst reports. UBS Group dropped their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 7th. Barclays cut their price objective on Skechers U.S.A. from $80.00 to $77.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Bank of America decreased their target price on Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday. Needham & Company LLC reaffirmed a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Evercore ISI upped their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th.

Skechers U.S.A. Stock Up 0.8 %

SKX stock traded up $0.44 during mid-day trading on Tuesday, reaching $57.79. The company had a trading volume of 1,592,969 shares, compared to its average volume of 2,022,016. The company has a market capitalization of $8.63 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.11 and a beta of 1.21. Skechers U.S.A. has a 52 week low of $53.79 and a 52 week high of $78.85. The stock has a 50 day simple moving average of $64.54 and a two-hundred day simple moving average of $65.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12.

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Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share 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 13.73%. As a group, equities analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO John M. Vandemore sold 5,112 shares of Skechers U.S.A. stock in a transaction on 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 trade represents a 5.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO David Weinberg sold 26,913 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $1,635,233.88. Following the sale, the chief operating officer now owns 44,637 shares of the company's stock, valued at approximately $2,712,144.12. This represents a 37.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock worth $14,700,809 over the last ninety days. Corporate insiders own 24.75% of the company's stock.

Institutional Trading of Skechers U.S.A.

A number of hedge funds have recently added to or reduced their stakes in SKX. Vanguard Group Inc. boosted its holdings in shares of Skechers U.S.A. by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker's stock valued at $843,474,000 after acquiring an additional 82,143 shares in the last quarter. Anomaly Capital Management LP raised its position in Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock valued at $200,981,000 after purchasing an additional 1,011,815 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Skechers U.S.A. by 70.4% during the fourth 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 purchasing an additional 953,528 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Skechers U.S.A. by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker's stock worth $154,361,000 after purchasing an additional 78,071 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Skechers U.S.A. by 19.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker's stock valued at $148,743,000 after buying an additional 357,681 shares during the period. 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.