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

Skechers U.S.A. (NYSE:SKX) had its price objective lowered by Evercore ISI from $73.00 to $68.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the textile maker’s stock.

SKX has been the topic of several other reports. Barclays started coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They issued an overweight rating and a $71.00 target price on the stock. Stifel Nicolaus decreased their target price on Skechers U.S.A. from $72.00 to $70.00 and set a buy rating for the company in a research report on Friday, February 2nd. Bank of America began coverage on Skechers U.S.A. in a research report on Friday, March 8th. They set a neutral rating and a $67.00 price target 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 lowered their target price on 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 research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. has a consensus rating of Moderate Buy and a consensus target price of $66.17.

Skechers U.S.A. Price Performance

NYSE SKX opened at $56.41 on Wednesday. Skechers U.S.A. has a 1 year low of $45.58 and a 1 year high of $65.17. The business’s fifty day moving average is $59.67 and its two-hundred day moving average is $57.69. The stock has a market capitalization of $8.65 billion, a P/E ratio of 16.16, a P/E/G ratio of 1.02 and a beta of 1.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. Skechers U.S.A. had a return on equity of 12.89% and a net margin of 6.82%. The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the firm earned $0.48 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, research analysts forecast that Skechers U.S.A. will post 3.82 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In other Skechers U.S.A. news, CEO Robert Greenberg sold 99,139 shares of the business’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 sale, the chief executive officer now directly owns 196,050 shares of the company’s stock, valued at $11,345,413.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO David Weinberg sold 67,390 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the transaction, the chief operating officer now owns 141,405 shares of the company’s stock, valued at approximately $8,183,107.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Robert Greenberg sold 99,139 shares of the firm’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. Over the last quarter, insiders have sold 254,875 shares of company stock valued at $15,021,192. 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. Bfsg LLC boosted its holdings in shares of Skechers U.S.A. by 2.9% during the 4th quarter. Bfsg LLC now owns 6,545 shares of the textile maker’s stock worth $408,000 after buying an additional 186 shares during the period. US Bancorp DE boosted its holdings in Skechers U.S.A. by 13.1% during the fourth quarter. US Bancorp DE now owns 1,618 shares of the textile maker’s stock valued at $101,000 after acquiring an additional 187 shares during the period. National Bank of Canada FI grew its position in shares of Skechers U.S.A. by 7.1% in the fourth quarter. National Bank of Canada FI now owns 3,035 shares of the textile maker’s stock valued at $188,000 after purchasing an additional 200 shares during the last quarter. Janney Capital Management LLC increased its stake in shares of Skechers U.S.A. by 2.8% in the third quarter. Janney Capital Management LLC now owns 8,646 shares of the textile maker’s stock worth $423,000 after purchasing an additional 233 shares during the period. Finally, 1492 Capital Management LLC lifted its position in shares of Skechers U.S.A. by 1.0% during the 4th quarter. 1492 Capital Management LLC now owns 26,270 shares of the textile maker’s stock worth $1,638,000 after purchasing an additional 259 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.