Skechers U.S.A. (NYSE:SKX) Hits New 12-Month Low – What’s Next?

Skechers U.S.A., Inc. (NYSE:SKX)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $53.79 and last traded at $54.88, with a volume of 4688003 shares. The stock had previously closed at $58.99.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SKX shares. Evercore ISI boosted their target price on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Barclays lowered their target price on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Raymond James lowered their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, February 10th. Finally, UBS Group lowered their target price on 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. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Skechers U.S.A. currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.25.

Skechers U.S.A. Trading Up 1.3 %

The company has a market cap of $8.52 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. 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 simple moving average of $67.31 and a 200-day simple moving average of $66.11.

Skechers U.S.A. (NYSE:SKX) last announced 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, analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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

In other news, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $554,618.12. Following the sale, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO John M. Vandemore sold 5,112 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total value of $310,605.12. Following the sale, the chief financial officer now directly owns 83,328 shares in the company, valued at $5,063,009.28. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 236,738 shares of company stock valued at $14,700,809 over the last quarter. 24.75% of the stock is owned by company insiders.

Institutional Trading of Skechers U.S.A.

A number of large investors have recently modified their holdings of SKX. NewEdge Advisors LLC increased its holdings in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in Skechers U.S.A. by 534.3% in the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after buying an additional 358 shares during the last quarter. Investment Management Corp VA ADV purchased a new position in Skechers U.S.A. in the fourth quarter valued at $32,000. UMB Bank n.a. increased its holdings in Skechers U.S.A. by 53.1% in the fourth quarter. UMB Bank n.a. now owns 689 shares of the textile maker’s stock valued at $46,000 after buying an additional 239 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after buying an additional 317 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

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.