Skechers U.S.A. (NYSE:SKX) Price Target Lowered to $62.00 at Stifel Nicolaus

Skechers U.S.A. (NYSE:SKX) had its price target decreased by equities researchers at Stifel Nicolaus from $80.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the textile maker’s stock. Stifel Nicolaus’ price objective would indicate a potential upside of 24.86% from the stock’s previous close.

Several other research firms also recently commented on SKX. Evercore ISI lifted their price target on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. TD Cowen upped their price target on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. UBS Group decreased their price objective on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Bank of America dropped their target price on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating for the company in a report on Monday, March 24th. Finally, Barclays decreased their price target on Skechers U.S.A. from $80.00 to $77.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average target price of $78.92.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded down $0.92 on Thursday, hitting $49.66. 1,162,086 shares of the company traded hands, compared to its average volume of 2,759,427. Skechers U.S.A. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company has a market cap of $7.42 billion, a P/E ratio of 11.97, a P/E/G ratio of 1.11 and a beta of 1.08. The firm’s 50-day simple moving average is $59.51 and its 200 day simple moving average is $64.21.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. Analysts expect that Skechers U.S.A. will post 4.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 52,600 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at $3,848,938.24. This represents a 46.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO John M. Vandemore sold 5,112 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $60.76, for a total value of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares of the company’s stock, valued at $5,063,009.28. This represents a 5.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 218,245 shares of company stock valued at $13,452,902. 24.75% of the stock is currently owned by corporate insiders.

Institutional Trading of Skechers U.S.A.

A number of hedge funds have recently made changes to their positions in the stock. Spire Wealth Management boosted its holdings in Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after acquiring an additional 155 shares in the last quarter. Calamos Wealth Management LLC grew its position in Skechers U.S.A. by 0.9% during the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after purchasing an additional 157 shares during the last quarter. Cerity Partners LLC raised its holdings in Skechers U.S.A. by 1.2% in the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker’s stock worth $947,000 after buying an additional 172 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after buying an additional 190 shares in the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of Skechers U.S.A. by 4.7% during the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock valued at $302,000 after buying an additional 200 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Company Profile

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.