Skechers U.S.A., Inc. (NYSE:SKX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) has received an average recommendation of "Moderate Buy" from the thirteen analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $81.25.

A number of analysts have commented on the stock. Barclays dropped their price target on shares of 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. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 price target for the company. StockNews.com lowered shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research report on Monday, February 10th. TD Cowen boosted their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Finally, UBS Group reduced their target price on Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a report on Friday, February 7th.

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Skechers U.S.A. Trading Down 4.4 %

Shares of NYSE SKX traded down $2.66 on Friday, reaching $58.34. 1,498,939 shares of the company traded hands, compared to its average volume of 1,958,711. The stock has a market capitalization of $8.81 billion, a PE ratio of 14.05, a P/E/G ratio of 1.11 and a beta of 1.19. 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. has a fifty-two week low of $55.67 and a fifty-two week high of $78.85. The company has a 50 day moving average of $68.91 and a 200 day moving average of $66.62.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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%. On average, equities research analysts forecast that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO David Weinberg sold 8,219 shares of the stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at approximately $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the sale, the president now owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,139 shares of company stock valued at $7,600,899. 24.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in shares of Skechers U.S.A. by 778.1% during the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock worth $69,000 after acquiring an additional 887 shares during the period. Raymond James & Associates raised its stake in shares of Skechers U.S.A. by 192.7% during the third quarter. Raymond James & Associates now owns 52,570 shares of the textile maker's stock valued at $3,518,000 after acquiring an additional 34,612 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of Skechers U.S.A. in the third quarter worth approximately $289,000. State of Alaska Department of Revenue lifted its holdings in Skechers U.S.A. by 165.9% in the third quarter. State of Alaska Department of Revenue now owns 38,535 shares of the textile maker's stock valued at $2,578,000 after buying an additional 24,040 shares during the period. Finally, Integrated Advisors Network LLC bought a new position in shares of Skechers U.S.A. during the 3rd quarter worth approximately $229,000. Institutional investors own 79.96% of the company's stock.

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.