Skechers U.S.A. (NYSE:SKX) PT Lowered to $66.00 at Raymond James

Skechers U.S.A. (NYSE:SKXGet Free Report) had its price objective decreased by stock analysts at Raymond James from $68.00 to $66.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. Raymond James’ price target indicates a potential upside of 15.71% from the company’s previous close.

Several other research firms have also recently commented on SKX. Monness Crespi & Hardt raised their target price 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. Stifel Nicolaus dropped 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. Finally, Wedbush decreased their price target on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $64.56.

Check Out Our Latest Stock Analysis on SKX

Skechers U.S.A. Stock Performance

SKX opened at $57.04 on Monday. The company has a current ratio of 2.38, a quick ratio of 1.46 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $61.73 and its 200-day moving average is $54.32. The stock has a market cap of $8.78 billion, a PE ratio of 16.34 and a beta of 1.36. Skechers U.S.A. has a twelve month low of $41.56 and a twelve month high of $65.17.

Skechers U.S.A. (NYSE:SKXGet Free Report) last announced its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The company had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.48 EPS. On average, analysts predict that Skechers U.S.A. will post 3.8 earnings per share for the current year.

Insider Transactions at Skechers U.S.A.

In related news, Director Katherine J. Blair bought 4,900 shares of Skechers U.S.A. stock in a transaction dated Friday, November 10th. The stock was acquired at an average cost of $49.93 per share, with a total value of $244,657.00. Following the completion of the acquisition, the director now directly owns 15,400 shares in the company, valued at approximately $768,922. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Katherine J. Blair purchased 4,900 shares of the business’s stock in a transaction dated Friday, November 10th. The shares were acquired at an average price of $49.93 per share, for a total transaction of $244,657.00. Following the completion of the acquisition, the director now directly owns 15,400 shares of the company’s stock, valued at $768,922. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Greenberg sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The shares were sold at an average price of $58.68, for a total transaction of $5,868,000.00. Following the completion of the sale, the chief executive officer now owns 3,834 shares of the company’s stock, valued at approximately $224,979.12. The disclosure for this sale can be found here. Insiders have sold 216,186 shares of company stock valued at $12,764,321 over the last three months. Company insiders own 24.79% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SKX. Goldman Sachs Group Inc. increased its stake in Skechers U.S.A. by 705.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 2,135,092 shares of the textile maker’s stock valued at $112,434,000 after buying an additional 1,869,889 shares during the period. Pacer Advisors Inc. grew its holdings in shares of Skechers U.S.A. by 6,521.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,456,599 shares of the textile maker’s stock valued at $90,804,000 after acquiring an additional 1,434,601 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Skechers U.S.A. by 757.6% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,543,936 shares of the textile maker’s stock worth $73,368,000 after acquiring an additional 1,363,908 shares during the last quarter. Norges Bank purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $36,184,000. Finally, Schonfeld Strategic Advisors LLC boosted its position in Skechers U.S.A. by 1,102.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 905,292 shares of the textile maker’s stock valued at $37,977,000 after purchasing an additional 829,982 shares during the last quarter. 80.54% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Company Profile

(Get Free Report)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children worldwide. The company operates through two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.

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Analyst Recommendations for Skechers U.S.A. (NYSE:SKX)

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