Skechers U.S.A. (NYSE:SKX) Stock Price Up 0.2% – Still a Buy?

Skechers U.S.A., Inc. (NYSE:SKX)’s stock price traded up 0.2% on Tuesday . The company traded as high as $56.32 and last traded at $55.07. 539,683 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,981,888 shares. The stock had previously closed at $54.98.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 price objective for the company. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, February 10th. Evercore ISI boosted their price objective 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. Raymond James decreased their target price on Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 7th. Finally, UBS Group lowered their target price on Skechers U.S.A. from $92.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.25.

Skechers U.S.A. Price Performance

The stock has a 50-day moving average of $67.75 and a two-hundred day moving average of $66.27. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 13.43, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The company has a current ratio of 1.97, a quick ratio of 1.12 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 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Robert Greenberg sold 52,600 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $62.72, for a total value of $3,299,072.00. Following the completion of the sale, the chief executive officer now directly owns 61,367 shares of the company’s stock, valued at approximately $3,848,938.24. This represents a 46.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Michael Greenberg sold 10,274 shares of Skechers U.S.A. stock in a transaction dated 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 directly owns 149,327 shares in the company, valued at approximately $10,076,585.96. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,738 shares of company stock worth $14,700,809. Corporate insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

A number of hedge funds have recently made changes to their positions in the stock. Cim LLC increased its stake in Skechers U.S.A. by 1.7% in the 4th quarter. Cim LLC now owns 19,271 shares of the textile maker’s stock valued at $1,296,000 after buying an additional 316 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Skechers U.S.A. during the 4th quarter valued at $1,110,000. Integrated Advisors Network LLC grew its holdings in shares of Skechers U.S.A. by 335.4% during the 4th quarter. Integrated Advisors Network LLC now owns 14,900 shares of the textile maker’s stock valued at $1,002,000 after acquiring an additional 11,478 shares in the last quarter. Peak Retirement Planning Inc. acquired a new position in shares of Skechers U.S.A. in the fourth quarter worth $953,000. Finally, Formidable Asset Management LLC purchased a new stake in shares of Skechers U.S.A. during the fourth quarter worth $769,000. 79.96% of the stock is owned by hedge funds and other institutional investors.

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.