Skechers U.S.A. (NYSE:SKX) Stock Price Down 8.8% - What's Next?

Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) dropped 8.8% during trading on Monday . The stock traded as low as $46.11 and last traded at $45.76. Approximately 2,213,675 shares traded hands during mid-day trading, an increase of 3% from the average daily volume of 2,146,240 shares. The stock had previously closed at $50.20.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday. 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. Raymond James decreased their target price on shares of Skechers U.S.A. from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, February 7th. StockNews.com lowered Skechers U.S.A. from a "buy" rating to a "hold" rating in a report on Monday, February 10th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $78.92.

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Skechers U.S.A. Stock Performance

The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average price of $58.55 and a two-hundred day moving average price of $63.99. The stock has a market cap of $7.39 billion, a P/E ratio of 11.92, 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 posted its quarterly 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 return on equity of 13.73% and a net margin of 7.13%. On average, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, EVP Mark A. Nason sold 12,046 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $66.08, for a total transaction of $795,999.68. Following the completion of the transaction, the executive vice president now owns 25,675 shares in the company, valued at $1,696,604. This trade represents a 31.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert Greenberg sold 52,600 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares in the company, valued at $3,848,938.24. This trade represents a 46.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 218,245 shares of company stock valued at $13,452,902. Corporate insiders own 24.75% of the company's stock.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC lifted its holdings in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC raised its position in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock valued at $29,000 after purchasing an additional 358 shares during the period. Investment Management Corp VA ADV bought a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $32,000. Parallel Advisors LLC boosted its holdings in shares of Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after purchasing an additional 399 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Skechers U.S.A. by 53.1% during the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock valued at $46,000 after purchasing an additional 239 shares during the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

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.