Skechers U.S.A. (NYSE:SKX) Price Target Lowered to $75.00 at Raymond James

Skechers U.S.A. (NYSE:SKX) had its target price decreased by Raymond James from $80.00 to $75.00 in a research report released on Friday morning,Benzinga reports. Raymond James currently has an outperform rating on the textile maker’s stock.

SKX has been the topic of several other research reports. UBS Group decreased their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a research note on Friday. Evercore ISI increased their target price 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. Bank of America decreased their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Piper Sandler started coverage on shares of Skechers U.S.A. in a research note on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. Finally, Morgan Stanley boosted 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 note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $81.50.

Skechers U.S.A. Stock Performance

SKX opened at $66.06 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. Skechers U.S.A. has a 52-week low of $55.67 and a 52-week high of $78.85. The firm has a market cap of $9.97 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19. The business’s fifty day moving average is $70.51 and its 200-day moving average is $66.46.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS 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%. Sell-side analysts expect that Skechers U.S.A. will post 4.79 EPS for the current fiscal year.

Insider Transactions at Skechers U.S.A.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Independent Advisor Alliance raised its holdings in shares of Skechers U.S.A. by 4.7% during the fourth quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker’s stock valued at $302,000 after purchasing an additional 200 shares during the period. Paragon Private Wealth Management LLC bought a new position in Skechers U.S.A. in the fourth quarter worth approximately $209,000. Johnson Investment Counsel Inc. grew its stake in Skechers U.S.A. by 6.2% in the fourth quarter. Johnson Investment Counsel Inc. now owns 35,518 shares of the textile maker’s stock valued at $2,388,000 after acquiring an additional 2,079 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Skechers U.S.A. by 2.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,680 shares of the textile maker’s stock valued at $1,592,000 after acquiring an additional 671 shares in the last quarter. Finally, HM Payson & Co. bought a new stake in shares of Skechers U.S.A. during the fourth quarter valued at approximately $417,000. 79.96% of the stock is owned by institutional investors.

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.