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

Barclays assumed coverage on shares of Skechers U.S.A. (NYSE:SKXGet Free Report) in a report issued on Monday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $71.00 price target on the textile maker’s stock. Barclays‘s target price indicates a potential upside of 20.60% from the stock’s current price.

Several other research firms have also commented on SKX. Bank of America initiated coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price target for the company. Raymond James reduced their price objective on shares of Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Monness Crespi & Hardt boosted 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 note on Thursday, January 18th. Stifel Nicolaus reduced their price objective on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Finally, Wedbush reduced their price objective on shares of Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.58.

Read Our Latest Analysis on Skechers U.S.A.

Skechers U.S.A. Trading Down 4.0 %

Shares of SKX opened at $58.87 on Monday. Skechers U.S.A. has a 1-year low of $45.58 and a 1-year high of $65.17. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.38 and a quick ratio of 1.46. The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 1.11 and a beta of 1.32. The company has a 50-day moving average of $60.50 and a 200 day moving average of $56.89.

Skechers U.S.A. (NYSE:SKXGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, beating the consensus estimate of $0.52 by $0.04. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $0.48 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, research analysts expect that Skechers U.S.A. will post 3.82 EPS for the current year.

Insiders Place Their Bets

In other Skechers U.S.A. news, CEO Robert Greenberg sold 30,339 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the sale, the chief executive officer now owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, 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 sale, 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 can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 30,339 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the completion of the sale, the chief executive officer now directly owns 132,783 shares in the company, valued at $8,114,369.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 254,875 shares of company stock valued at $15,021,192. Insiders own 24.79% of the company’s stock.

Institutional Trading of Skechers U.S.A.

Large investors have recently made changes to their positions in the business. Advisors Asset Management Inc. purchased a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $25,000. Fred Alger Management LLC purchased a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $26,000. Huntington National Bank boosted its holdings in shares of Skechers U.S.A. by 861.7% in the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Skechers U.S.A. in the 3rd quarter valued at $31,000. Finally, Lazard Asset Management LLC lifted its stake in shares of Skechers U.S.A. by 117.7% in the 3rd quarter. Lazard Asset Management LLC now owns 651 shares of the textile maker’s stock valued at $31,000 after purchasing an additional 352 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

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 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.

See Also

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

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