Harbour Trust & Investment Management Co Purchases 6,045 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Harbour Trust & Investment Management Co increased its position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 8.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 76,573 shares of the textile maker's stock after purchasing an additional 6,045 shares during the quarter. Harbour Trust & Investment Management Co owned approximately 0.05% of Skechers U.S.A. worth $4,348,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position 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 period. TD Private Client Wealth LLC grew its holdings in Skechers U.S.A. by 534.3% during the 4th 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 period. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. during the 4th quarter worth $32,000. Parallel Advisors LLC raised 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 valued at $35,000 after acquiring an additional 399 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Skechers U.S.A. in the 1st quarter valued at $35,000. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Stock Up 0.2%

Shares of Skechers U.S.A. stock traded up $0.12 during trading on Wednesday, reaching $63.24. The stock had a trading volume of 6,994,410 shares, compared to its average volume of 3,536,701. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $9.46 billion, a price-to-earnings ratio of 15.20 and a beta of 1.12. The stock has a fifty day moving average price of $60.06 and a two-hundred day moving average price of $61.63. Skechers U.S.A., Inc. has a 52 week low of $44.50 and a 52 week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its 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. 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 for the quarter, compared to analysts' expectations of $2.43 billion. During the same quarter in the previous year, the business posted $1.33 EPS. The business's quarterly revenue was up 7.1% compared to the same quarter last year. Sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SKX shares. Raymond James Financial lowered Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Evercore ISI lowered 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 research note on Thursday, April 17th. Bank of America cut their target price on shares of Skechers U.S.A. from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Monday, March 24th. Wells Fargo & Company boosted 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. Finally, Morgan Stanley restated an "equal weight" rating and issued a $63.00 price objective (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 issued a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price 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.