Skechers U.S.A. (NYSE:SKX) Coverage Initiated by Analysts at Barclays

Barclays started coverage on shares of Skechers U.S.A. (NYSE:SKXFree Report) in a report released on Monday, MarketBeat.com reports. The brokerage issued an overweight rating and a $71.00 target price on the textile maker’s stock.

Other equities analysts have also recently issued research reports about the stock. TD Cowen raised their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a buy rating in a research report on Wednesday, March 6th. Stifel Nicolaus decreased their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a buy rating for the company in a research report on Friday, February 2nd. Wedbush decreased their price target on shares of Skechers U.S.A. from $75.00 to $68.00 and set an outperform rating for the company in a research report on Friday, February 2nd. Raymond James decreased their price target on shares of Skechers U.S.A. from $68.00 to $66.00 and set an outperform rating for the company in a research report on Monday, February 5th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the stock a buy rating in a research report on Thursday, January 18th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $66.58.

Read Our Latest Research Report on SKX

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $61.32 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The stock has a market capitalization of $9.40 billion, a P/E ratio of 17.57, a PEG ratio of 1.11 and a beta of 1.32. The company has a 50 day moving average price of $60.56 and a 200 day moving average price of $56.81. Skechers U.S.A. has a fifty-two week low of $45.58 and a fifty-two week high of $65.17.

Skechers U.S.A. (NYSE:SKXGet Free Report) last posted its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.48 EPS. Equities research analysts forecast that Skechers U.S.A. will post 3.82 EPS for the current year.

Insider Activity

In related news, EVP Mark A. Nason sold 6,432 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $58.83, for a total transaction of $378,394.56. Following the sale, the executive vice president now owns 34,023 shares of the company’s stock, valued at $2,001,573.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Skechers U.S.A. news, EVP Mark A. Nason sold 6,067 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $370,754.37. Following the sale, the executive vice president now owns 14,023 shares of the company’s stock, valued at $856,945.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark A. Nason sold 6,432 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $58.83, for a total transaction of $378,394.56. Following the completion of the transaction, the executive vice president now directly owns 34,023 shares of the company’s stock, valued at approximately $2,001,573.09. The disclosure for this sale can be found here. Insiders have sold a total of 254,875 shares of company stock valued at $15,021,192 over the last quarter. Corporate insiders own 24.79% of the company’s stock.

Hedge Funds Weigh In On Skechers U.S.A.

Institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new stake in shares of Skechers U.S.A. in the first quarter worth $25,000. Fred Alger Management LLC acquired a new stake in shares of Skechers U.S.A. in the first quarter worth $26,000. Huntington National Bank increased its position in shares of Skechers U.S.A. by 861.7% in the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock worth $28,000 after acquiring an additional 517 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Skechers U.S.A. in the third quarter worth $31,000. Finally, Lazard Asset Management LLC increased its position in shares of Skechers U.S.A. by 117.7% in the third quarter. Lazard Asset Management LLC now owns 651 shares of the textile maker’s stock worth $31,000 after acquiring an additional 352 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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Analyst Recommendations for Skechers U.S.A. (NYSE:SKX)

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