Shares of Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) gapped up prior to trading on Tuesday after an insider bought additional shares in the company. The stock had previously closed at $34.26, but opened at $35.85. Skechers U.S.A. shares last traded at $35.60, with a volume of 10,659 shares. Specifically, General Counsel Phillip Paccione sold 11,696 shares of the stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $43.30, for a total transaction of $506,436.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, President Michael Greenberg bought 75,000 shares of Skechers U.S.A. stock in a transaction on Friday, March 4th. The shares were purchased at an average cost of $38.23 per share, for a total transaction of $2,867,250.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 153,501 shares of company stock valued at $6,646,593. 25.92% of the stock is owned by insiders.
SKX has been the topic of a number of research analyst reports. Wedbush raised Skechers U.S.A. from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $47.00 to $54.00 in a report on Tuesday, January 4th. Zacks Investment Research raised Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $46.00 target price on the stock in a research note on Monday, January 3rd. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 28th. Finally, OTR Global cut Skechers U.S.A. from a “positive” rating to a “mixed” rating in a research report on Thursday, January 13th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. has an average rating of “Buy” and an average target price of $54.89.
The company has a current ratio of 2.33, a quick ratio of 1.32 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of 7.24 and a beta of 1.40. The stock has a fifty day moving average of $44.25 and a 200-day moving average of $45.17.
Skechers U.S.A. (NYSE:SKX – Get Rating) last issued its earnings results on Thursday, February 3rd. The textile maker reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.10. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Skechers U.S.A. had a return on equity of 13.08% and a net margin of 11.80%. During the same quarter last year, the firm posted $0.24 earnings per share. As a group, equities research analysts forecast that Skechers U.S.A., Inc. will post 2.86 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of SKX. Spire Wealth Management boosted its position in shares of Skechers U.S.A. by 61.7% in the third quarter. Spire Wealth Management now owns 629 shares of the textile maker’s stock worth $26,000 after buying an additional 240 shares during the period. Covestor Ltd acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth $31,000. Allworth Financial LP boosted its position in shares of Skechers U.S.A. by 198.4% in the fourth quarter. Allworth Financial LP now owns 761 shares of the textile maker’s stock worth $33,000 after buying an additional 506 shares during the period. Cornerstone Advisory LLC acquired a new stake in shares of Skechers U.S.A. in the fourth quarter worth $34,000. Finally, Trust Co. of Vermont acquired a new stake in Skechers U.S.A. during the fourth quarter valued at $46,000. 79.75% of the stock is owned by institutional investors and hedge funds.
Skechers U.S.A. Company Profile (NYSE:SKX)
Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.