Skechers USA Inc (NYSE:SKX) has been given a consensus rating of “Hold” by the eighteen research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $32.91.

Several research analysts have recently weighed in on SKX shares. Susquehanna Bancshares upgraded Skechers USA from a “neutral” rating to a “positive” rating and increased their price target for the stock from $32.00 to $37.00 in a research note on Wednesday, March 27th. Standpoint Research cut Skechers USA from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. TheStreet raised Skechers USA from a “c+” rating to a “b” rating in a report on Thursday, February 14th. Cowen reissued a “hold” rating and set a $34.00 price objective on shares of Skechers USA in a report on Tuesday, February 12th. Finally, UBS Group raised their price objective on Skechers USA from $32.00 to $37.00 and gave the company a “buy” rating in a report on Monday, February 11th.

In other news, Director Jeffrey Greenberg sold 30,000 shares of Skechers USA stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $32.33, for a total value of $969,900.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, President Michael Greenberg sold 90,000 shares of Skechers USA stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $33.76, for a total value of $3,038,400.00. Following the completion of the sale, the president now owns 552,679 shares in the company, valued at $18,658,443.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 495,108 shares of company stock worth $16,691,886. 27.88% of the stock is owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Skechers USA by 335.3% in the third quarter. Bank of New York Mellon Corp now owns 6,604,345 shares of the textile maker’s stock worth $184,459,000 after acquiring an additional 5,087,296 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in Skechers USA during the fourth quarter valued at approximately $56,133,000. Norges Bank purchased a new stake in Skechers USA during the fourth quarter valued at approximately $29,796,000. Oregon Public Employees Retirement Fund raised its position in Skechers USA by 2,192.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,233,771 shares of the textile maker’s stock valued at $54,000 after purchasing an additional 1,179,958 shares during the period. Finally, MARSHALL WACE ASIA Ltd purchased a new stake in Skechers USA during the third quarter valued at approximately $30,230,000. Hedge funds and other institutional investors own 76.84% of the company’s stock.

Skechers USA stock traded up $0.01 during midday trading on Thursday, reaching $34.46. The company’s stock had a trading volume of 37,598 shares, compared to its average volume of 1,797,421. Skechers USA has a 52 week low of $21.45 and a 52 week high of $43.08. The company has a quick ratio of 1.89, a current ratio of 2.91 and a debt-to-equity ratio of 0.04. The stock has a market cap of $5.46 billion, a PE ratio of 17.98, a P/E/G ratio of 2.38 and a beta of 0.62.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, February 7th. The textile maker reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.08. Skechers USA had a return on equity of 14.08% and a net margin of 6.49%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the prior year, the firm earned $0.21 earnings per share. Skechers USA’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, analysts expect that Skechers USA will post 2.04 earnings per share for the current year.

Skechers USA Company Profile

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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Analyst Recommendations for Skechers USA (NYSE:SKX)

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