Skechers U.S.A. (NYSE:SKX) Shares Down 2.9%

Skechers U.S.A., Inc. (NYSE:SKX)’s stock price fell 2.9% on Thursday . The stock traded as low as $69.27 and last traded at $69.70. 222,186 shares changed hands during trading, a decline of 87% from the average session volume of 1,689,173 shares. The stock had previously closed at $71.75.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SKX. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $82.00 price objective on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Barclays began coverage on Skechers U.S.A. in a research note on Monday, April 1st. They set an “overweight” rating and a $71.00 price objective on the stock. Wedbush restated an “outperform” rating and set a $76.00 price objective on shares of Skechers U.S.A. in a research note on Friday, May 17th. Bank of America raised Skechers U.S.A. from a “neutral” rating to a “buy” rating and raised their target price for the company from $71.00 to $87.00 in a research report on Friday, June 7th. Finally, Evercore ISI decreased their target price 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. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

Skechers U.S.A. Trading Down 2.4 %

The firm has a fifty day moving average of $68.13 and a two-hundred day moving average of $63.42. The company has a market cap of $10.68 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.04 and a beta of 1.28. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.23. The company had revenue of $2.25 billion during 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 firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 EPS. As a group, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.08 EPS for the current year.

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

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of Skechers U.S.A. stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $69.45, for a total transaction of $29,377.35. Following the completion of the transaction, the general counsel now owns 35,000 shares of the company’s stock, valued at approximately $2,430,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 24.75% of the company’s stock.

Institutional Trading of Skechers U.S.A.

A number of large investors have recently modified their holdings of SKX. DekaBank Deutsche Girozentrale bought a new stake in shares of Skechers U.S.A. during the 3rd quarter valued at about $31,000. PNC Financial Services Group Inc. boosted its position in shares of Skechers U.S.A. by 7.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,225 shares of the textile maker’s stock valued at $256,000 after acquiring an additional 381 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Skechers U.S.A. during the 3rd quarter valued at about $219,000. Envestnet Asset Management Inc. boosted its position in shares of Skechers U.S.A. by 56.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 96,433 shares of the textile maker’s stock valued at $4,720,000 after acquiring an additional 34,926 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Skechers U.S.A. by 138.2% during the 3rd quarter. Invesco Ltd. now owns 770,710 shares of the textile maker’s stock valued at $37,726,000 after acquiring an additional 447,192 shares during the last quarter. Institutional investors 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.