Skechers U.S.A.’s (SKX) “Hold” Rating Reiterated at Needham & Company LLC

Skechers U.S.A. (NYSE:SKX)‘s stock had its “hold” rating restated by research analysts at Needham & Company LLC in a report released on Friday,Benzinga reports.

SKX has been the subject of a number of other reports. Bank of America decreased their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 25th. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Morgan Stanley boosted their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Evercore ISI lifted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, Barclays boosted their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $81.60.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $75.69 on Friday. Skechers U.S.A. has a 52-week low of $55.67 and a 52-week high of $78.85. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The firm has a market cap of $11.43 billion, a price-to-earnings ratio of 18.64, a PEG ratio of 0.92 and a beta of 1.19. The business’s 50 day moving average is $70.27 and its two-hundred day moving average is $66.39.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Analysts forecast that Skechers U.S.A. will post 4.24 EPS for the current fiscal year.

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

In other news, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total transaction of $693,289.52. Following the sale, the president now owns 149,327 shares of the company’s stock, valued at approximately $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO David Weinberg sold 8,219 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skechers U.S.A.

Institutional investors and hedge funds have recently bought and sold shares of the stock. UMB Bank n.a. raised its position in shares of Skechers U.S.A. by 423.3% during the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after buying an additional 364 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Skechers U.S.A. by 62.4% in the fourth quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock valued at $55,000 after acquiring an additional 317 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 299 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. during the fourth quarter worth approximately $65,000. Finally, Brooklyn Investment Group acquired a new stake in Skechers U.S.A. in the third quarter worth approximately $67,000. Institutional investors own 79.96% of the company’s stock.

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.