Skechers U.S.A., Inc. (NYSE:SKX) Receives $66.83 Consensus Target Price from Brokerages

Skechers U.S.A., Inc. (NYSE:SKX) has been assigned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $66.83.

Several brokerages have commented on SKX. Stifel Nicolaus cut their target price on Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Raymond James decreased their target price 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. Monness Crespi & Hardt upped their price objective on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Bank of America initiated coverage on shares of Skechers U.S.A. in a research note on Friday, March 8th. They set a “neutral” rating and a $67.00 target price for the company. Finally, Barclays assumed coverage on Skechers U.S.A. in a report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target for the company.

Insider Activity at Skechers U.S.A.

In related news, COO David Weinberg sold 67,390 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the transaction, the chief operating officer now directly owns 141,405 shares of the company’s stock, valued at $8,183,107.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Mark A. Nason sold 6,432 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $58.83, for a total transaction of $378,394.56. Following the completion of the sale, the executive vice president now directly owns 34,023 shares of the company’s stock, valued at $2,001,573.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $3,899,859.30. Following the completion of the transaction, the chief operating officer now owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. 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 90 days. Insiders own 24.75% of the company’s stock.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in SKX. Redmont Wealth Advisors LLC purchased a new position in Skechers U.S.A. in the first quarter valued at about $25,000. Huntington National Bank lifted its stake in Skechers U.S.A. by 861.7% in the third quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after purchasing an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Skechers U.S.A. during the third quarter valued at $31,000. GAMMA Investing LLC purchased a new stake in Skechers U.S.A. in the fourth quarter worth $36,000. Finally, Game Plan Financial Advisors LLC bought a new stake in shares of Skechers U.S.A. in the first quarter valued at $43,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

Shares of SKX opened at $66.81 on Friday. The company has a quick ratio of 1.56, a current ratio of 2.39 and a debt-to-equity ratio of 0.02. The stock has a market cap of $10.24 billion, a PE ratio of 17.58, a PEG ratio of 1.17 and a beta of 1.29. Skechers U.S.A. has a 12-month low of $45.58 and a 12-month high of $69.07. The business has a 50-day simple moving average of $60.55 and a two-hundred day simple moving average of $58.90.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.23. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the firm posted $1.02 earnings per share. The firm’s revenue was up 12.5% compared to the same quarter last year. Analysts anticipate that Skechers U.S.A. will post 4.07 earnings per share for the current fiscal year.

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.