TD Cowen Raises Skechers U.S.A. (NYSE:SKX) Price Target to $74.00

Skechers U.S.A. (NYSE:SKXFree Report) had its price target upped by TD Cowen from $70.00 to $74.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the textile maker’s stock.

SKX has been the topic of a number of other research reports. Monness Crespi & Hardt increased their price target on shares of Skechers U.S.A. from $60.00 to $72.00 and gave the stock a buy rating in a report on Thursday, January 18th. Evercore ISI started coverage on shares of Skechers U.S.A. in a report on Thursday, February 15th. They issued an outperform rating and a $73.00 price target on the stock. Raymond James cut their price objective on Skechers U.S.A. from $68.00 to $66.00 and set an outperform rating on the stock in a research report on Monday, February 5th. Stifel Nicolaus cut their price objective on Skechers U.S.A. from $72.00 to $70.00 and set a buy rating on the stock in a research report on Friday, February 2nd. Finally, Wedbush cut their target price on shares of Skechers U.S.A. from $75.00 to $68.00 and set an outperform rating on the stock in a research note on Friday, February 2nd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. currently has an average rating of Moderate Buy and an average target price of $66.18.

Read Our Latest Stock Analysis on SKX

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $60.05 on Wednesday. The firm’s 50 day simple moving average is $61.12 and its 200 day simple moving average is $55.43. 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 firm has a market capitalization of $9.25 billion, a PE ratio of 17.21 and a beta of 1.32. Skechers U.S.A. has a 1-year low of $41.56 and a 1-year high of $65.17.

Skechers U.S.A. (NYSE:SKXGet Free Report) last posted its earnings results 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 business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. Skechers U.S.A.’s revenue was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. As a group, analysts expect that Skechers U.S.A. will post 3.81 earnings per share for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction dated 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 transaction, the chief operating officer now owns 141,405 shares in the company, valued at approximately $8,183,107.35. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, COO David Weinberg sold 67,390 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total value 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 approximately $8,183,107.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 99,139 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $57.87, for a total value of $5,737,173.93. Following the completion of the transaction, the chief executive officer now directly owns 196,050 shares in the company, valued at $11,345,413.50. The disclosure for this sale can be found here. Insiders have sold a total of 185,566 shares of company stock valued at $10,799,585 in the last ninety days. 24.79% of the stock is currently owned by corporate insiders.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SKX. Advisors Asset Management Inc. bought a new position in Skechers U.S.A. during the 1st quarter valued at about $25,000. IFP Advisors Inc bought a new position in Skechers U.S.A. during the 2nd quarter valued at about $26,000. Fred Alger Management LLC bought a new position in Skechers U.S.A. during the 1st quarter valued at about $26,000. Huntington National Bank lifted its holdings in shares of Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after buying an additional 517 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Skechers U.S.A. during the 3rd quarter valued at $31,000. 80.54% of the stock is owned by institutional investors.

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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