Skechers U.S.A. (NYSE:SKX) Price Target Raised to $79.00 at TD Cowen

Skechers U.S.A. (NYSE:SKX) had its target price raised by TD Cowen from $77.00 to $79.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the textile maker’s stock.

Several other analysts have also issued reports on SKX. Barclays assumed coverage on Skechers U.S.A. in a report on Monday, April 1st. They set an overweight rating and a $71.00 target price on the stock. Evercore ISI dropped their price objective on Skechers U.S.A. from $73.00 to $68.00 and set an outperform rating for the company in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft restated a buy rating and set a $82.00 price objective on shares of Skechers U.S.A. in a research report on Thursday, June 13th. Wedbush restated an outperform rating and set a $76.00 price objective on shares of Skechers U.S.A. in a research report on Friday, May 17th. Finally, Wells Fargo & Company assumed coverage on Skechers U.S.A. in a research report on Wednesday, June 12th. They set an overweight rating and a $83.00 price objective for the company. Fourteen research analysts have rated the stock with a buy rating, According to MarketBeat, Skechers U.S.A. has an average rating of Buy and an average price target of $74.77.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX opened at $63.71 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. The stock’s fifty day moving average price is $69.22 and its two-hundred day moving average price is $64.12. Skechers U.S.A. has a one year low of $45.58 and a one year high of $75.09. The firm has a market cap of $9.72 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 0.92 and a beta of 1.25.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.23. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. Skechers U.S.A. had a return on equity of 13.56% and a net margin of 7.17%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.02 EPS. On average, equities analysts forecast that Skechers U.S.A. will post 4.11 EPS for the current year.

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

In other news, General Counsel Phillip Paccione sold 423 shares of the stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now owns 35,000 shares of the company’s stock, valued at $2,430,750. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 24.75% of the company’s stock.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Redmont Wealth Advisors LLC acquired a new stake in shares of Skechers U.S.A. in the first quarter valued at about $25,000. Bessemer Group Inc. increased its stake in shares of Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares during the period. GAMMA Investing LLC acquired a new stake in shares of Skechers U.S.A. in the fourth quarter valued at about $36,000. Versant Capital Management Inc increased its stake in shares of Skechers U.S.A. by 2,809.1% in the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after buying an additional 618 shares during the period. Finally, Game Plan Financial Advisors LLC acquired a new stake in shares of Skechers U.S.A. in the first quarter valued at about $43,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

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.