Skechers U.S.A. (NYSE:SKX) Shares Down 6.1% – Should You Sell?

Skechers U.S.A., Inc. (NYSE:SKX)’s share price fell 6.1% on Monday . The stock traded as low as $55.60 and last traded at $55.39. 734,911 shares were traded during trading, a decline of 63% from the average session volume of 1,972,269 shares. The stock had previously closed at $58.99.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SKX. StockNews.com downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, February 10th. TD Cowen increased their price target on Skechers U.S.A. from $88.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Raymond James reduced their price objective on shares of Skechers U.S.A. from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, February 7th. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Evercore ISI raised their target price on shares of Skechers U.S.A. from $72.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Three investment 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 a consensus price target of $81.25.

Skechers U.S.A. Price Performance

The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.11 and a beta of 1.21. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average is $68.01 and its 200-day moving average is $66.36.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $0.65 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.08). Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. Equities research analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO John M. Vandemore sold 5,112 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $60.76, for a total transaction of $310,605.12. Following the sale, the chief financial officer now owns 83,328 shares in the company, valued at $5,063,009.28. The trade was a 5.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Michael Greenberg sold 10,274 shares of the stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $67.48, for a total value of $693,289.52. Following the completion of the transaction, the president now owns 149,327 shares of the company’s stock, valued at $10,076,585.96. This represents a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 236,738 shares of company stock worth $14,700,809 in the last three months. 24.75% of the stock is owned by corporate insiders.

Institutional Trading of Skechers U.S.A.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cim LLC boosted its position in Skechers U.S.A. by 1.7% during the 4th quarter. Cim LLC now owns 19,271 shares of the textile maker’s stock worth $1,296,000 after buying an additional 316 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of Skechers U.S.A. during the fourth quarter valued at $1,110,000. Integrated Advisors Network LLC lifted its holdings in shares of Skechers U.S.A. by 335.4% during the fourth quarter. Integrated Advisors Network LLC now owns 14,900 shares of the textile maker’s stock worth $1,002,000 after purchasing an additional 11,478 shares during the period. Peak Retirement Planning Inc. acquired a new stake in Skechers U.S.A. in the fourth quarter valued at $953,000. Finally, Formidable Asset Management LLC bought a new position in Skechers U.S.A. during the 4th quarter worth $769,000. 79.96% of the stock is currently owned by institutional investors.

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.