Skechers U.S.A. (NYSE:SKX) Trading Up 0.2% – Still a Buy?

Skechers U.S.A., Inc. (NYSE:SKX) shot up 0.2% during mid-day trading on Tuesday . The company traded as high as $56.32 and last traded at $55.07. 539,683 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,981,888 shares. The stock had previously closed at $54.98.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SKX. UBS Group dropped 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. Evercore ISI increased their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Raymond James lowered their price target on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, February 7th. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a report on Friday, February 7th. Finally, TD Cowen increased their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Stock Performance

The stock has a market capitalization of $8.43 billion, a P/E ratio of 13.46, a PEG ratio of 1.11 and a beta of 1.21. The firm has a 50-day moving average of $67.31 and a 200 day moving average of $66.11. The company has a quick ratio of 1.12, a current ratio of 1.97 and a debt-to-equity ratio of 0.01.

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

Insider Activity

In related news, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the transaction, the chief financial officer now directly owns 83,328 shares of the company’s stock, valued at approximately $5,063,009.28. The trade was a 5.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Michael Greenberg sold 10,274 shares of the company’s stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 236,738 shares of company stock worth $14,700,809 in the last 90 days. Corporate insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

Several institutional investors and hedge funds have recently modified their holdings of SKX. Pacer Advisors Inc. lifted its position in shares of Skechers U.S.A. by 5,780.6% during the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock worth $176,628,000 after buying an additional 2,594,507 shares during the last quarter. Norges Bank acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $105,741,000. Duquesne Family Office LLC acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $72,272,000. Two Sigma Investments LP increased its stake in shares of Skechers U.S.A. by 772.7% in the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker’s stock valued at $79,107,000 after buying an additional 1,041,677 shares during the period. Finally, Anomaly Capital Management LP increased its stake in shares of Skechers U.S.A. by 51.2% in the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock valued at $200,981,000 after buying an additional 1,011,815 shares during the period. 79.96% of the stock is currently 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.