Deroy & Devereaux Private Investment Counsel Inc. Buys New Shares in Skechers U.S.A., Inc. (NYSE:SKX)

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

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

Wall Street Analyst Weigh In

SKX has been the subject of several recent analyst reports. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 target price for the company. in a research note on Wednesday, May 28th. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a report on Tuesday, April 22nd. Raymond James Financial lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research note on Monday, May 5th. Morgan Stanley reiterated an "equal weight" rating and issued 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. Finally, Evercore ISI dropped their target price on shares of 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. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $67.69.

Skechers U.S.A. Trading Up 0.0%

NYSE SKX traded up $0.02 on Friday, hitting $63.27. The company's stock had a trading volume of 2,074,270 shares, compared to its average volume of 3,549,337. The firm has a market cap of $9.47 billion, a PE ratio of 15.21 and a beta of 1.12. The company's 50-day moving average is $60.60 and its 200 day moving average is $61.61. 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 1-year low of $44.50 and a 1-year high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. The business had revenue of $2.41 billion during the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. Skechers U.S.A.'s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company earned $1.33 EPS. As a group, analysts predict 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.