24,238 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by Advisor Resource Council

Advisor Resource Council bought a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,238 shares of the textile maker's stock, valued at approximately $1,376,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC increased its holdings in shares of Skechers U.S.A. by 85.2% during the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock worth $28,000 after buying an additional 190 shares during the last quarter. TD Private Client Wealth LLC increased its stake in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker's stock worth $29,000 after acquiring an additional 358 shares during the last quarter. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. during the fourth quarter worth about $32,000. Parallel Advisors LLC raised its holdings in shares of Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock worth $35,000 after purchasing an additional 399 shares during the period. Finally, Byrne Asset Management LLC acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at about $39,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on SKX shares. Wells Fargo & Company raised their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Wall Street Zen assumed coverage on shares of Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating on the stock. UBS Group restated a "neutral" rating and set a $63.00 target price (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Evercore ISI lowered their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a report on Thursday, April 17th. Finally, Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. has a consensus rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Stock Up 0.1%

Shares of SKX traded up $0.09 during trading on Tuesday, reaching $62.76. The company's stock had a trading volume of 7,585,208 shares, compared to its average volume of 3,449,637. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 15.09 and a beta of 1.13. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. The company has a fifty day moving average of $58.19 and a two-hundred day moving average of $61.89. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.33 earnings per share. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Skechers U.S.A. Profile

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.