Skechers U.S.A., Inc. (NYSE:SKX) Given Average Recommendation of “Moderate Buy” by Brokerages

Skechers U.S.A., Inc. (NYSE:SKX) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $80.18.

Several equities analysts have recently commented on the stock. StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. Bank of America cut 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. Morgan Stanley raised their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Piper Sandler initiated coverage on shares of Skechers U.S.A. in a report on Tuesday, December 10th. They issued a “neutral” rating and a $65.00 target price on the stock. Finally, TD Cowen raised their target price on shares of Skechers U.S.A. from $88.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th.

Insider Transactions at Skechers U.S.A.

In other news, COO David Weinberg sold 8,219 shares of the company’s stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total transaction of $554,618.12. Following the transaction, the chief operating officer now directly 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 sale 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 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 transaction of $693,289.52. Following the transaction, the president now owns 149,327 shares in the company, valued at $10,076,585.96. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 24.75% of the company’s stock.

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

A number of institutional investors and hedge funds have recently modified their holdings of SKX. Spire Wealth Management increased its stake in Skechers U.S.A. by 11.6% in the fourth quarter. Spire Wealth Management now owns 1,486 shares of the textile maker’s stock valued at $100,000 after purchasing an additional 155 shares in the last quarter. Calamos Wealth Management LLC increased its position in shares of Skechers U.S.A. by 0.9% during the fourth quarter. Calamos Wealth Management LLC now owns 18,257 shares of the textile maker’s stock worth $1,228,000 after acquiring an additional 157 shares in the last quarter. Lindenwold Advisors INC increased its position in shares of Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after acquiring an additional 195 shares in the last quarter. Blue Trust Inc. increased its position in shares of Skechers U.S.A. by 20.7% during 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 in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in Skechers U.S.A. by 5.4% during the fourth quarter. CIBC Asset Management Inc now owns 4,166 shares of the textile maker’s stock worth $280,000 after purchasing an additional 213 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $75.27 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. Skechers U.S.A. has a one year low of $55.67 and a one year high of $78.85. The company’s 50-day simple moving average is $69.65 and its 200-day simple moving average is $66.20. The stock has a market capitalization of $11.36 billion, a price-to-earnings ratio of 18.54, a PEG ratio of 0.94 and a beta of 1.19.

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.