StockNews.com Begins Coverage on Skechers U.S.A. (NYSE:SKX)

StockNews.com began coverage on shares of Skechers U.S.A. (NYSE:SKX – Get Rating) in a research note published on Thursday morning. The brokerage issued a hold rating on the textile maker’s stock.

A number of other brokerages have also commented on SKX. Raymond James lifted their price objective on Skechers U.S.A. from $48.00 to $55.00 and gave the stock an outperform rating in a research report on Wednesday, February 1st. UBS Group lifted their price objective on Skechers U.S.A. from $63.00 to $69.00 in a research report on Friday, February 3rd. Monness Crespi & Hardt lifted their price objective on Skechers U.S.A. to $50.00 in a research report on Friday, December 2nd. Cowen upgraded Skechers U.S.A. from a market perform rating to an outperform rating and lifted their price objective for the stock from $48.00 to $65.00 in a research report on Monday, January 23rd. Finally, Morgan Stanley lowered Skechers U.S.A. from an overweight rating to an equal weight rating and decreased their target price for the stock from $54.00 to $46.00 in a research report on Wednesday, January 18th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Skechers U.S.A. has an average rating of Moderate Buy and a consensus price target of $53.83.

Skechers U.S.A. Stock Down 0.6 %

Shares of NYSE SKX opened at $44.44 on Thursday. The business has a fifty day moving average of $45.43 and a two-hundred day moving average of $40.63. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.13 and a current ratio of 2.26. Skechers U.S.A. has a 52-week low of $31.28 and a 52-week high of $49.56. The stock has a market cap of $6.89 billion, a PE ratio of 18.67 and a beta of 1.32.

Skechers U.S.A. (NYSE:SKX – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. Skechers U.S.A. had a return on equity of 9.94% and a net margin of 5.01%. The business had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, equities research analysts expect that Skechers U.S.A. will post 2.95 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 9,453 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $45.16, for a total value of $426,897.48. Following the completion of the transaction, the chief executive officer now directly owns 168,907 shares in the company, valued at approximately $7,627,840.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Skechers U.S.A. news, CEO Robert Greenberg sold 9,453 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $45.16, for a total value of $426,897.48. Following the sale, the chief executive officer now owns 168,907 shares in the company, valued at approximately $7,627,840.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO David Weinberg sold 8,403 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $42.29, for a total value of $355,362.87. Following the completion of the sale, the chief operating officer now owns 124,419 shares in the company, valued at approximately $5,261,679.51. The disclosure for this sale can be found here. In the last three months, insiders sold 97,211 shares of company stock worth $4,348,160. 24.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On Skechers U.S.A.

Institutional investors have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in Skechers U.S.A. by 162.5% in the 3rd quarter. Allworth Financial LP now owns 790 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 489 shares in the last quarter. Byrne Asset Management LLC bought a new stake in Skechers U.S.A. in the 3rd quarter valued at approximately $40,000. Covestor Ltd raised its stake in shares of Skechers U.S.A. by 88.9% during the 1st quarter. Covestor Ltd now owns 1,360 shares of the textile maker’s stock worth $55,000 after purchasing an additional 640 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Skechers U.S.A. during the 3rd quarter worth approximately $47,000. Finally, Quadrant Capital Group LLC raised its stake in shares of Skechers U.S.A. by 338.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,568 shares of the textile maker’s stock worth $66,000 after purchasing an additional 1,210 shares in the last quarter. Institutional investors own 93.29% of the company’s stock.

About Skechers U.S.A.

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Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the Wholesale and Direct-to-Consumer segment. The Wholesale segment includes department stores, family shoe stores, specialty running, and sporting goods retailers.