Advisor Resource Council Purchases Shares of 24,238 Skechers U.S.A., Inc. (NYSE:SKX)

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC grew its stake in Skechers U.S.A. by 1.2% in the fourth quarter. Cerity Partners LLC now owns 14,090 shares of the textile maker's stock valued at $947,000 after purchasing an additional 172 shares in the last quarter. NewEdge Advisors LLC boosted its stake 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 acquiring an additional 190 shares in the last quarter. Independent Advisor Alliance boosted its stake in shares of Skechers U.S.A. by 4.7% during the 4th quarter. Independent Advisor Alliance now owns 4,486 shares of the textile maker's stock worth $302,000 after acquiring an additional 200 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Skechers U.S.A. by 20.7% during the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after acquiring an additional 207 shares in the last quarter. Finally, X Square Capital LLC boosted its stake in shares of Skechers U.S.A. by 0.5% during the 4th quarter. X Square Capital LLC now owns 42,835 shares of the textile maker's stock worth $2,880,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX traded up $0.09 during trading hours on Friday, hitting $62.53. 6,350,119 shares of the company's stock were exchanged, compared to its average volume of 3,442,202. The company's 50-day moving average price is $57.92 and its 200-day moving average price is $62.07. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The stock has a market capitalization of $9.35 billion, a price-to-earnings ratio of 15.03 and a beta of 1.13. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year 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 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The company's revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 EPS. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SKX. Stifel Nicolaus decreased their price target on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Monness Crespi & Hardt downgraded Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Wells Fargo & Company upped their price target on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Barclays reiterated an "equal weight" rating and set a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Finally, Evercore ISI decreased their price target on Skechers U.S.A. from $78.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of "Hold" and a consensus price target of $67.69.

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.