Shares of Skechers U.S.A., Inc. (NYSE:SKX - Get Free Report) shot up 1.3% during mid-day trading on Thursday . The company traded as high as $60.03 and last traded at $60.09. 414,532 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 1,958,722 shares. The stock had previously closed at $59.34.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the stock. Evercore ISI raised their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Stifel Nicolaus decreased their target price on shares of Skechers U.S.A. from $83.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They set a "neutral" rating and a $65.00 target price for the company. UBS Group decreased their target price on shares of Skechers U.S.A. from $92.00 to $90.00 and set a "buy" rating for the company in a research note on Friday, February 7th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. has an average rating of "Moderate Buy" and an average price target of $81.25.
View Our Latest Report on Skechers U.S.A.
Skechers U.S.A. Stock Up 0.1 %
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 company's fifty day moving average is $68.01 and its 200-day moving average is $66.36. The company has a market cap of $8.92 billion, a PE ratio of 14.23, a PEG ratio of 1.11 and a beta of 1.21.
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%. On average, analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.
Insider Transactions at Skechers U.S.A.
In other news, President Michael Greenberg sold 10,274 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $693,289.52. Following the transaction, the president now owns 149,327 shares of the company's stock, valued at $10,076,585.96. This trade represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the firm's stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value 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 $8,246,798.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock valued at $14,700,809 over the last quarter. 24.75% of the stock is currently owned by company insiders.
Institutional Trading of Skechers U.S.A.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SKX. NewEdge Advisors LLC raised its stake in Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares during the period. TD Private Client Wealth LLC increased its stake in Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares during the last quarter. Investment Management Corp VA ADV bought a new stake in Skechers U.S.A. in the 4th quarter worth approximately $32,000. UMB Bank n.a. increased its stake in Skechers U.S.A. by 53.1% in the 4th quarter. UMB Bank n.a. now owns 689 shares of the textile maker's stock worth $46,000 after acquiring an additional 239 shares during the last quarter. Finally, IFP Advisors Inc increased its stake in Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after acquiring an additional 317 shares during the last quarter. Institutional investors 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.
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