Skechers U.S.A. (NYSE:SKX) Sees Strong Trading Volume

Shares of Skechers U.S.A., Inc. (NYSE:SKX) saw strong trading volume on Friday . 3,488,598 shares were traded during trading, an increase of 118% from the previous session’s volume of 1,600,747 shares.The stock last traded at $56.54 and had previously closed at $56.86.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Stifel Nicolaus lowered their price target on shares of Skechers U.S.A. from $72.00 to $70.00 and set a “buy” rating for the company in a report on Friday, February 2nd. Evercore ISI decreased their price objective on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating for the company in a report on Wednesday. Barclays initiated coverage on shares of Skechers U.S.A. in a report on Monday, April 1st. They issued an “overweight” rating and a $71.00 price objective for the company. Wedbush restated an “outperform” rating and issued a $68.00 price objective on shares of Skechers U.S.A. in a report on Friday. Finally, Bank of America initiated coverage on shares of Skechers U.S.A. in a report on Friday, March 8th. They issued a “neutral” rating and a $67.00 price objective for the company. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $66.17.

Skechers U.S.A. Stock Down 0.6 %

The stock’s 50-day moving average price is $59.72 and its two-hundred day moving average price is $57.57. The stock has a market capitalization of $8.67 billion, a PE ratio of 16.26, a P/E/G ratio of 1.02 and a beta of 1.32. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.46 and a current ratio of 2.38.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, February 1st. The textile maker reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.04. The firm had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $2.03 billion. Skechers U.S.A. had a net margin of 6.82% and a return on equity of 12.89%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.48 EPS. As a group, analysts expect that Skechers U.S.A., Inc. will post 3.82 EPS for the current fiscal year.

Insider Transactions at Skechers U.S.A.

In related news, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the sale, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Robert Greenberg sold 30,339 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $61.11, for a total transaction of $1,854,016.29. Following the sale, the chief executive officer now directly owns 132,783 shares of the company’s stock, valued at approximately $8,114,369.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David Weinberg sold 67,390 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $57.87, for a total transaction of $3,899,859.30. Following the sale, the chief operating officer now directly owns 141,405 shares in the company, valued at $8,183,107.35. The disclosure for this sale can be found here. Insiders have sold 254,875 shares of company stock valued at $15,021,192 in the last three months. 24.79% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Skechers U.S.A.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Redmont Wealth Advisors LLC bought a new position in Skechers U.S.A. during the 1st quarter valued at about $25,000. Advisors Asset Management Inc. bought a new position in Skechers U.S.A. during the 1st quarter valued at about $25,000. Fred Alger Management LLC bought a new position in Skechers U.S.A. during the 1st quarter valued at about $26,000. GAMMA Investing LLC bought a new position in Skechers U.S.A. during the 4th quarter valued at about $36,000. Finally, Huntington National Bank lifted its stake in Skechers U.S.A. by 861.7% during the 3rd quarter. Huntington National Bank now owns 577 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 517 shares during the period. Institutional investors own 79.96% of the company’s stock.

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.