Skechers U.S.A. (NYSE:SKX) PT Lowered to $68.00 at Evercore ISI

Skechers U.S.A. (NYSE:SKX) had its price objective decreased by equities researchers at Evercore ISI from $73.00 to $68.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the textile maker’s stock. Evercore ISI’s target price indicates a potential upside of 19.74% from the company’s current price.

A number of other research firms have also issued reports on SKX. Raymond James lowered their target price on Skechers U.S.A. from $68.00 to $66.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Monness Crespi & Hardt raised their target price on Skechers U.S.A. from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, January 18th. Bank of America began coverage on Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 target price on the stock. TD Cowen raised their price objective on Skechers U.S.A. from $70.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, Wedbush reduced their price objective on Skechers U.S.A. from $75.00 to $68.00 and set an “outperform” rating for the company in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.17.

Skechers U.S.A. Stock Down 1.0 %

Shares of NYSE SKX traded down $0.60 during mid-day trading on Wednesday, reaching $56.79. 922,344 shares of the company traded hands, compared to its average volume of 1,571,249. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38. The stock has a market cap of $8.70 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32. The company’s fifty day moving average is $59.75 and its two-hundred day moving average is $57.59. Skechers U.S.A. has a fifty-two week low of $45.58 and a fifty-two week high of $65.17.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, February 1st. The textile maker reported $0.56 EPS for the quarter, beating 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 return on equity of 12.89% and a net margin of 6.82%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, analysts expect that Skechers U.S.A. will post 3.82 earnings per share for the current year.

Insider Activity at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 99,139 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the sale, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at approximately $11,345,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Robert Greenberg sold 99,139 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $5,737,173.93. Following the completion of the sale, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at approximately $11,345,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Michael Greenberg sold 25,282 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $61.11, for a total value of $1,544,983.02. Following the sale, the president now directly owns 123,441 shares of the company’s stock, valued at $7,543,479.51. The disclosure for this sale can be found here. Insiders sold 254,875 shares of company stock valued at $15,021,192 in the last three months. Corporate insiders own 24.79% of the company’s stock.

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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Skechers U.S.A. by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 12,626,633 shares of the textile maker’s stock valued at $787,144,000 after buying an additional 40,138 shares during the period. State Street Corp increased its stake in shares of Skechers U.S.A. by 3.4% in the 3rd quarter. State Street Corp now owns 4,778,584 shares of the textile maker’s stock valued at $151,577,000 after buying an additional 157,862 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Skechers U.S.A. by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,770,584 shares of the textile maker’s stock valued at $233,520,000 after buying an additional 112,517 shares during the period. Fiduciary Management Inc. WI increased its stake in shares of Skechers U.S.A. by 3.5% in the 4th quarter. Fiduciary Management Inc. WI now owns 2,893,529 shares of the textile maker’s stock valued at $180,383,000 after buying an additional 98,068 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Skechers U.S.A. by 6.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,784,301 shares of the textile maker’s stock valued at $99,065,000 after buying an additional 165,147 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

About Skechers U.S.A.

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.