Skechers U.S.A. (NYSE:SKX) Given New $64.00 Price Target at UBS Group

Skechers U.S.A. (NYSE:SKX - Get Free Report) had its target price cut by UBS Group from $65.00 to $64.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the textile maker's stock. UBS Group's price objective points to a potential upside of 34.66% from the company's previous close.

A number of other analysts have also recently commented on the stock. StockNews.com cut shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Stifel Nicolaus reduced their target price on 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. 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 research report on Monday, March 24th. Evercore ISI boosted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $74.67.

Skechers U.S.A. Stock Performance

SKX traded up $0.82 during trading on Monday, reaching $47.53. 3,579,888 shares of the company's stock were exchanged, compared to its average volume of 2,260,923. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.97 and a quick ratio of 1.12. Skechers U.S.A. has a 1 year low of $44.50 and a 1 year high of $78.85. The company's fifty day simple moving average is $56.42 and its 200-day simple moving average is $63.32. The stock has a market capitalization of $7.10 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08.

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 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, research analysts predict that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 10,994 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $56.63, for a total value of $622,590.22. Following the transaction, the general counsel now owns 15,000 shares of the company's stock, valued at $849,450. This represents a 42.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Mark A. Nason sold 12,046 shares of Skechers U.S.A. stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $66.08, for a total transaction of $795,999.68. Following the sale, the executive vice president now owns 25,675 shares of the company's stock, valued at approximately $1,696,604. This represents a 31.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,245 shares of company stock worth $13,452,902 over the last quarter. 24.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Skechers U.S.A.

Several institutional investors and hedge funds have recently modified their holdings of SKX. QRG Capital Management Inc. increased its stake in Skechers U.S.A. by 6.0% during the first quarter. QRG Capital Management Inc. now owns 11,160 shares of the textile maker's stock worth $634,000 after purchasing an additional 636 shares during the period. Janney Montgomery Scott LLC increased its stake in Skechers U.S.A. by 9.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 25,635 shares of the textile maker's stock worth $1,456,000 after buying an additional 2,137 shares during the period. Byrne Asset Management LLC acquired a new stake in Skechers U.S.A. during the 1st quarter worth approximately $39,000. Wealth Enhancement Advisory Services LLC boosted its position in Skechers U.S.A. by 5.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 8,496 shares of the textile maker's stock valued at $482,000 after buying an additional 475 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its stake in shares of Skechers U.S.A. by 8.6% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 4,046 shares of the textile maker's stock worth $230,000 after acquiring an additional 321 shares in the last quarter. Hedge funds and other institutional investors 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.