Skechers U.S.A. (NYSE:SKX) Given New $80.00 Price Target at Stifel Nicolaus

Skechers U.S.A. logo with Consumer Discretionary background

Skechers U.S.A. (NYSE:SKX - Free Report) had its price target lowered by Stifel Nicolaus from $83.00 to $80.00 in a research note issued to investors on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the textile maker's stock.

Other equities research analysts have also issued reports about the company. Bank of America dropped their target price on Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research report on Friday, October 25th. TD Cowen raised their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Barclays boosted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Piper Sandler began coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They set a "neutral" rating and a $65.00 price target for the company. Finally, Morgan Stanley raised their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $81.50.

Check Out Our Latest Stock Analysis on SKX

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock traded down $9.56 during mid-day trading on Friday, reaching $66.06. The company's stock had a trading volume of 10,536,456 shares, compared to its average volume of 1,980,609. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. Skechers U.S.A. has a twelve month low of $55.67 and a twelve month high of $78.85. The business has a 50 day moving average price of $70.55 and a 200-day moving average price of $66.48. The firm has a market cap of $9.97 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.95 and a beta of 1.19.

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 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. Sell-side analysts predict that Skechers U.S.A. will post 4.79 EPS for the current fiscal year.

Insider Activity

In other Skechers U.S.A. news, 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 transaction of $554,618.12. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the company's stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares in the company, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by company insiders.

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

A number of institutional investors have recently modified their holdings of the stock. Creative Planning boosted its position in Skechers U.S.A. by 15.7% during the second quarter. Creative Planning now owns 9,504 shares of the textile maker's stock valued at $657,000 after purchasing an additional 1,292 shares during the last quarter. Truist Financial Corp grew its stake in shares of Skechers U.S.A. by 40.8% in the 2nd quarter. Truist Financial Corp now owns 24,172 shares of the textile maker's stock valued at $1,671,000 after buying an additional 7,004 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Skechers U.S.A. by 32.9% in the 2nd quarter. Cetera Investment Advisers now owns 25,016 shares of the textile maker's stock valued at $1,729,000 after buying an additional 6,193 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Skechers U.S.A. in the second quarter worth approximately $1,027,000. Finally, GAMMA Investing LLC raised its position in Skechers U.S.A. by 89.6% during the third quarter. GAMMA Investing LLC now owns 2,215 shares of the textile maker's stock valued at $148,000 after acquiring an additional 1,047 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.

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