Skechers U.S.A. (NYSE:SKX) Given Hold Rating at Needham & Company LLC

Skechers U.S.A. (NYSE:SKX)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports.

Other equities research analysts also recently issued reports about the company. Evercore ISI lifted their price objective on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday. StockNews.com raised Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Piper Sandler initiated coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, Bank of America lowered their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus price target of $80.18.

Skechers U.S.A. Price Performance

NYSE:SKX opened at $76.85 on Wednesday. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 0.90 and a beta of 1.19. The company has a 50-day moving average of $68.37 and a 200-day moving average of $65.92. Skechers U.S.A. has a 52 week low of $55.67 and a 52 week high of $76.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

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

In other Skechers U.S.A. news, President Michael Greenberg sold 10,274 shares of the stock in a transaction on 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 directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Weinberg sold 8,219 shares of the firm’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 $554,618.12. Following the completion of the transaction, the chief operating officer now owns 122,211 shares in the company, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 24.75% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Harbour Trust & Investment Management Co grew its stake in shares of Skechers U.S.A. by 6.9% during the fourth quarter. Harbour Trust & Investment Management Co now owns 70,528 shares of the textile maker’s stock worth $4,742,000 after purchasing an additional 4,555 shares during the period. Kestra Private Wealth Services LLC boosted its holdings in Skechers U.S.A. by 58.7% during the fourth quarter. Kestra Private Wealth Services LLC now owns 6,501 shares of the textile maker’s stock worth $437,000 after buying an additional 2,405 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its position in shares of Skechers U.S.A. by 68.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 623,745 shares of the textile maker’s stock worth $41,940,000 after buying an additional 253,045 shares during the period. Stephens Inc. AR bought a new stake in shares of Skechers U.S.A. in the 4th quarter valued at about $632,000. Finally, Empirical Finance LLC acquired a new stake in shares of Skechers U.S.A. in the 4th quarter valued at approximately $555,000. Institutional investors and hedge funds 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.