Deroy & Devereaux Private Investment Counsel Inc. Invests $2.08 Million in Skechers U.S.A., Inc. (NYSE:SKX)

Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 36,680 shares of the textile maker's stock, valued at approximately $2,083,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Skechers U.S.A. in the 4th quarter valued at approximately $12,852,000. Hudson Bay Capital Management LP acquired a new stake in Skechers U.S.A. in the 4th quarter valued at approximately $5,804,000. Praxis Investment Management Inc. acquired a new stake in Skechers U.S.A. in the 1st quarter valued at approximately $232,000. Schroder Investment Management Group grew its holdings in Skechers U.S.A. by 11.3% in the 4th quarter. Schroder Investment Management Group now owns 177,343 shares of the textile maker's stock valued at $12,010,000 after buying an additional 18,024 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in Skechers U.S.A. in the 4th quarter valued at approximately $1,110,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

SKX has been the topic of several recent research reports. Wall Street Zen initiated coverage on Skechers U.S.A. in a report on Thursday, May 22nd. They set a "sell" rating on the stock. UBS Group reissued a "neutral" rating and set a $63.00 price objective (down previously from $64.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Monness Crespi & Hardt lowered Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Finally, Raymond James Financial lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Skechers U.S.A. currently has an average rating of "Hold" and a consensus target price of $67.69.

Skechers U.S.A. Price Performance

SKX traded up $0.05 during trading on Monday, hitting $63.35. The company's stock had a trading volume of 2,770,874 shares, compared to its average volume of 3,550,950. The firm's 50 day moving average price is $60.91 and its two-hundred day moving average price is $61.51. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 12 month low of $44.50 and a 12 month high of $78.85. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 15.23 and a beta of 1.12.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings data 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. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The firm had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the company posted $1.33 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

Skechers U.S.A. Company 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.