Skechers U.S.A. (NYSE:SKX) Given New $80.00 Price Target at Stifel Nicolaus

Skechers U.S.A. (NYSE:SKX) had its price objective reduced by Stifel Nicolaus from $83.00 to $80.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the textile maker’s stock.

A number of other equities research analysts have also recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a research note on Friday. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They set a “neutral” rating and a $65.00 price objective on the stock. Evercore ISI lifted their price objective on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Bank of America lowered their target price 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. Finally, UBS Group cut their price target on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.50.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $66.06 on Friday. 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. has a 52 week low of $55.67 and a 52 week high of $78.85. The firm has a 50 day moving average of $70.51 and a 200-day moving average of $66.46. The company has a market cap of $9.97 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.95 and a beta of 1.19.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data 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%. On average, equities analysts forecast that Skechers U.S.A. will post 4.79 earnings per share for the current year.

Insider Transactions at Skechers U.S.A.

In related news, COO David Weinberg sold 8,219 shares of the company’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 in the company, valued at approximately $8,246,798.28. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Greenberg sold 10,274 shares of the firm’s stock in a transaction on 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 sale, the president now directly owns 149,327 shares of the company’s stock, valued at $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. Company insiders own 24.75% of the company’s stock.

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

Large investors have recently added to or reduced their stakes in the company. Spire Wealth Management boosted its position in Skechers U.S.A. by 11.6% during the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock worth $100,000 after purchasing an additional 155 shares during the period. Calamos Wealth Management LLC grew its stake in Skechers U.S.A. by 0.9% in the 4th quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock valued at $1,228,000 after buying an additional 157 shares in the last quarter. Lindenwold Advisors INC raised its holdings in Skechers U.S.A. by 3.0% during the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after acquiring an additional 195 shares during the period. Independent Advisor Alliance lifted its position 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 worth $302,000 after acquiring an additional 200 shares in the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Skechers U.S.A. by 20.7% in the fourth quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker’s stock worth $81,000 after acquiring an additional 207 shares during the period. Hedge funds and other 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.