Concurrent Investment Advisors LLC Takes $367,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

Concurrent Investment Advisors LLC acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 6,468 shares of the textile maker's stock, valued at approximately $367,000.

A number of other institutional investors also recently modified their holdings of SKX. Jones Financial Companies Lllp boosted its stake in shares of Skechers U.S.A. by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,218 shares of the textile maker's stock valued at $216,000 after purchasing an additional 1,023 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Skechers U.S.A. by 26.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 5,041 shares of the textile maker's stock valued at $339,000 after acquiring an additional 1,041 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Skechers U.S.A. during the 4th quarter valued at $2,378,000. Raymond James Financial Inc. acquired a new position in shares of Skechers U.S.A. during the 4th quarter valued at $12,852,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Skechers U.S.A. by 2.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,680 shares of the textile maker's stock valued at $1,592,000 after acquiring an additional 671 shares during the period. 79.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SKX has been the topic of a number of research reports. Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Barclays reiterated an "equal weight" rating and set a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. TD Cowen downgraded shares of Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price on the stock. in a research report on Wednesday, May 28th. UBS Group reiterated a "neutral" rating and set a $63.00 target price (down previously from $64.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Finally, Morgan Stanley reiterated an "equal weight" rating and set a $63.00 target price (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $63.13 on Friday. The firm has a 50-day moving average of $62.12 and a 200-day moving average of $61.47. The company has a market cap of $9.44 billion, a P/E ratio of 15.18 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. Skechers U.S.A., Inc. has a one year low of $44.50 and a one 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 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.17. The company had revenue of $2.41 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.33 earnings per share. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

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.

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