Skechers U.S.A. (NYSE:SKX) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of Skechers U.S.A. (NYSE:SKX) in a research note released on Wednesday,Benzinga reports.

SKX has been the subject of several other research reports. Barclays increased their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Bank of America cut their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Piper Sandler began coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. TD Cowen raised their price objective on Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Morgan Stanley raised their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $80.18.

Skechers U.S.A. Stock Down 0.0 %

SKX stock opened at $76.78 on Wednesday. The stock has a market capitalization of $11.59 billion, a PE ratio of 18.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. Skechers U.S.A. has a one year low of $55.67 and a one year high of $77.85. The company has a fifty day moving average of $68.70 and a 200-day moving average of $65.98. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

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

In other Skechers U.S.A. news, COO David Weinberg sold 8,219 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 value of $554,618.12. Following the completion of the transaction, the chief operating officer now directly owns 122,211 shares in the company, valued at $8,246,798.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Michael Greenberg sold 10,274 shares of the business’s stock in a transaction that occurred 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 transaction, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. 24.75% of the stock is currently owned by insiders.

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

A number of institutional investors and hedge funds have recently bought and sold shares of SKX. Sanctuary Advisors LLC grew its holdings in shares of Skechers U.S.A. by 88.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,538 shares of the textile maker’s stock worth $1,822,000 after acquiring an additional 13,836 shares during the last quarter. Victory Capital Management Inc. grew its position in Skechers U.S.A. by 22.3% in the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after acquiring an additional 25,289 shares in the last quarter. Transform Wealth LLC bought a new position in Skechers U.S.A. during the third quarter valued at about $7,186,000. National Bank of Canada FI increased its holdings in shares of Skechers U.S.A. by 2,340.0% during the 3rd quarter. National Bank of Canada FI now owns 70,710 shares of the textile maker’s stock valued at $4,732,000 after acquiring an additional 67,812 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock valued at $88,126,000 after acquiring an additional 17,429 shares in the last quarter. 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.