Vetr lowered shares of Skechers USA Inc. (NYSE:SKX) from a strong-buy rating to a buy rating in a report issued on Wednesday. They currently have $25.17 price objective on the stock.

Other research analysts have also recently issued research reports about the company. B. Riley cut Skechers USA from a buy rating to a neutral rating and set a $24.00 price objective on the stock. in a research report on Thursday, November 3rd. Cowen and Company reissued a hold rating on shares of Skechers USA in a report on Friday, October 21st. Susquehanna began coverage on Skechers USA in a report on Friday, August 12th. They set a neutral rating and a $27.00 target price on the stock. Wedbush began coverage on Skechers USA in a report on Tuesday, November 1st. They set a neutral rating and a $23.00 target price on the stock. Finally, Standpoint Research began coverage on Skechers USA in a report on Monday, October 3rd. They set a buy rating and a $30.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $27.08.

Skechers USA (NYSE:SKX) opened at 22.78 on Wednesday. Skechers USA has a 12-month low of $18.81 and a 12-month high of $34.27. The company has a market capitalization of $3.60 billion, a PE ratio of 13.24 and a beta of 0.27. The company has a 50 day moving average price of $21.56 and a 200-day moving average price of $25.47.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.46 by $0.04. The firm had revenue of $942.40 million for the quarter, compared to the consensus estimate of $954.38 million. Skechers USA had a return on equity of 17.44% and a net margin of 7.56%. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. On average, analysts anticipate that Skechers USA will post $1.63 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This report was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this report on another site, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at http://www.dailypolitical.com/2016/12/01/skechers-usa-inc-skx-downgraded-to-buy-at-vetr-inc.html.

In other news, President Michael Greenberg sold 150,000 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $20.58, for a total transaction of $3,087,000.00. Following the completion of the transaction, the president now directly owns 401,679 shares in the company, valued at $8,266,553.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert Greenberg acquired 250,000 shares of the stock in a transaction dated Monday, November 28th. The shares were bought at an average price of $22.18 per share, with a total value of $5,545,000.00. Following the completion of the transaction, the chief executive officer now directly owns 277,693 shares of the company’s stock, valued at $6,159,230.74. The disclosure for this purchase can be found here. Insiders own 21.73% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA bought a new position in shares of Skechers USA during the second quarter worth about $117,000. Van Hulzen Asset Management LLC bought a new position in shares of Skechers USA during the third quarter worth about $135,000. MSI Financial Services Inc increased its position in shares of Skechers USA by 36.6% in the third quarter. MSI Financial Services Inc now owns 6,210 shares of the company’s stock worth $143,000 after buying an additional 1,665 shares during the period. US Bancorp DE increased its position in shares of Skechers USA by 45.7% in the second quarter. US Bancorp DE now owns 5,211 shares of the company’s stock worth $155,000 after buying an additional 1,635 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Skechers USA by 16.9% in the third quarter. PNC Financial Services Group Inc. now owns 7,529 shares of the company’s stock worth $172,000 after buying an additional 1,087 shares during the period. Institutional investors own 61.06% of the company’s stock.

About Skechers USA

Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.

5 Day Chart for NYSE:SKX

To view Vetr’s full report, visit Vetr’s official website.

Receive News & Ratings for Skechers USA Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Skechers USA Inc. and related companies with MarketBeat.com's FREE daily email newsletter.