Barclays Cuts Skechers U.S.A. (NYSE:SKX) Price Target to $77.00

Skechers U.S.A. (NYSE:SKX) had its price target decreased by Barclays from $80.00 to $77.00 in a research report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the textile maker’s stock.

A number of other research firms also recently commented on SKX. Raymond James reduced their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, February 7th. Evercore ISI lifted their price target on Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Bank of America cut their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus decreased their target price on Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, February 7th. Finally, Piper Sandler initiated coverage on Skechers U.S.A. in a research note on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. has a consensus rating of “Moderate Buy” and an average target price of $81.25.

Skechers U.S.A. Stock Down 1.4 %

Shares of NYSE:SKX opened at $63.03 on Monday. The company has a market capitalization of $9.52 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The company has a 50 day moving average of $70.43 and a two-hundred day moving average of $66.50. 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.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, February 6th. The textile maker reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.81%. As a group, analysts forecast that Skechers U.S.A. will post 4.79 earnings per share for the current fiscal year.

Insider Activity at Skechers U.S.A.

In related news, President Michael Greenberg sold 10,274 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 transaction of $693,289.52. Following the sale, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO David Weinberg sold 8,219 shares of the stock in a transaction on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $554,618.12. Following the transaction, the chief operating officer now directly owns 122,211 shares of the company’s stock, valued at approximately $8,246,798.28. The trade was 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 insiders.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the business. TD Private Client Wealth LLC raised its holdings in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after buying an additional 358 shares during the period. UMB Bank n.a. boosted its holdings in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after purchasing an additional 364 shares during the period. IFP Advisors Inc increased its stake in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after purchasing an additional 299 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. in the fourth quarter worth $65,000. 79.96% of the stock is owned by institutional investors and hedge funds.

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.