Analysts Set Skechers U.S.A., Inc. (NYSE:SKX) PT at $78.42

Shares of Skechers U.S.A., Inc. (NYSE:SKX) have been assigned an average rating of “Moderate Buy” from the thirteen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $78.42.

SKX has been the topic of a number of analyst reports. Needham & Company LLC began coverage on Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating on the stock. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays upped their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Morgan Stanley boosted their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, October 25th.

Skechers U.S.A. Price Performance

Skechers U.S.A. stock opened at $69.64 on Thursday. The firm has a market capitalization of $10.51 billion, a PE ratio of 17.15, a P/E/G ratio of 0.86 and a beta of 1.19. Skechers U.S.A. has a 52 week low of $55.67 and a 52 week high of $75.09. The firm’s 50-day simple moving average is $66.38 and its 200 day simple moving average is $65.58. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.93 earnings per share. On average, equities research analysts predict that Skechers U.S.A. will post 4.24 EPS for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $693,289.52. Following the completion of the sale, the president now directly owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 directly owns 122,211 shares in the company, valued at $8,246,798.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.75% of the company’s stock.

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

A number of large investors have recently modified their holdings of the stock. UMB Bank n.a. boosted its holdings in Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after acquiring an additional 364 shares during the period. Venturi Wealth Management LLC grew its holdings in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares in the last quarter. Brooklyn Investment Group purchased a new stake in Skechers U.S.A. during the 3rd quarter worth $67,000. Blue Trust Inc. lifted its holdings in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after buying an additional 887 shares in the last quarter. Finally, Quarry LP boosted its position in Skechers U.S.A. by 44.6% in the 2nd quarter. Quarry LP now owns 1,187 shares of the textile maker’s stock valued at $82,000 after buying an additional 366 shares during the last quarter. Institutional investors and hedge funds 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.