Harbour Trust & Investment Management Co Raises Stake in Skechers U.S.A., Inc. (NYSE:SKX)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in Skechers U.S.A. during the 4th quarter valued at approximately $105,741,000. Duquesne Family Office LLC purchased a new position in Skechers U.S.A. during the fourth quarter worth $72,272,000. Two Sigma Investments LP lifted its position in shares of Skechers U.S.A. by 772.7% during the fourth quarter. Two Sigma Investments LP now owns 1,176,488 shares of the textile maker's stock worth $79,107,000 after purchasing an additional 1,041,677 shares during the last quarter. Anomaly Capital Management LP lifted its position in shares of Skechers U.S.A. by 51.2% during the fourth quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker's stock worth $200,981,000 after purchasing an additional 1,011,815 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its position in shares of Skechers U.S.A. by 381.0% during the fourth quarter. Two Sigma Advisers LP now owns 1,081,800 shares of the textile maker's stock worth $72,740,000 after purchasing an additional 856,900 shares during the last quarter. Institutional investors own 79.96% of the company's stock.

Skechers U.S.A. Price Performance

Shares of SKX stock traded up $0.02 during trading hours on Friday, hitting $63.27. 2,074,270 shares of the company's stock were exchanged, compared to its average volume of 3,554,085. The company has a quick ratio of 1.28, a current ratio of 2.13 and a debt-to-equity ratio of 0.02. The firm has a market cap of $9.47 billion, a P/E ratio of 15.21 and a beta of 1.12. The firm has a 50 day moving average of $60.91 and a two-hundred day moving average of $61.54. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the company earned $1.33 EPS. The firm's revenue 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 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI decreased their price objective on 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. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. TD Cowen lowered Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target on the stock. in a research note on Wednesday, May 28th. UBS Group reiterated a "neutral" rating and issued 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 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. One 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.com, the stock presently has a consensus rating of "Hold" and an average price target of $67.69.

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.