Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $45.69 and last traded at $46.93, with a volume of 714418 shares changing hands. The stock had previously closed at $48.96.
Wall Street Analyst Weigh In
A number of equities analysts have commented on the company. Piper Sandler initiated coverage on Skechers U.S.A. in a report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 target price for the company. TD Cowen raised their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Stifel Nicolaus lowered their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Finally, Barclays lowered 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. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $80.42.
Check Out Our Latest Stock Analysis on Skechers U.S.A.
Skechers U.S.A. Trading Down 5.9 %
The company has a 50 day moving average of $61.81 and a 200-day moving average of $64.66. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 10.93, a price-to-earnings-growth ratio of 1.11 and a beta of 1.08. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97.
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 (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, research analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.
Insider Activity at Skechers U.S.A.
In related news, CFO John M. Vandemore sold 5,112 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total transaction of $310,605.12. Following the completion of the sale, the chief financial officer now owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction dated Wednesday, February 12th. The shares were sold at an average price of $62.72, for a total transaction of $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares of the company's stock, valued at $3,848,938.24. The trade was a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 218,245 shares of company stock valued at $13,452,902 over the last three months. 24.75% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC grew its position in Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker's stock valued at $1,822,000 after buying an additional 13,836 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $12,852,000. Schroder Investment Management Group increased its stake in shares of Skechers U.S.A. by 11.3% during the fourth quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock worth $12,010,000 after acquiring an additional 18,024 shares during the period. National Bank of Canada FI raised its holdings in Skechers U.S.A. by 2,340.0% during the third quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker's stock worth $4,732,000 after purchasing an additional 67,812 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Skechers U.S.A. by 15.2% during the fourth quarter. Assenagon Asset Management S.A. now owns 120,007 shares of the textile maker's stock worth $8,069,000 after purchasing an additional 15,874 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.
About Skechers U.S.A.
(
Get Free Report)
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.
Further Reading
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