Intact Investment Management Inc. Increases Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Intact Investment Management Inc. lifted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 23.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,300 shares of the textile maker's stock after purchasing an additional 4,800 shares during the period. Intact Investment Management Inc.'s holdings in Skechers U.S.A. were worth $1,437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of Skechers U.S.A. by 20.7% during the 4th quarter. Blue Trust Inc. now owns 1,208 shares of the textile maker's stock worth $81,000 after buying an additional 207 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Skechers U.S.A. by 2.9% during the fourth quarter. Sanctuary Advisors LLC now owns 30,396 shares of the textile maker's stock valued at $2,044,000 after acquiring an additional 858 shares during the last quarter. CIBC Asset Management Inc boosted its position in Skechers U.S.A. by 5.4% in the fourth quarter. CIBC Asset Management Inc now owns 4,166 shares of the textile maker's stock worth $280,000 after purchasing an additional 213 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Skechers U.S.A. by 296.1% during the 4th quarter. Venturi Wealth Management LLC now owns 3,422 shares of the textile maker's stock valued at $230,000 after acquiring an additional 2,558 shares during the period. Finally, Alberta Investment Management Corp lifted its stake in Skechers U.S.A. by 9.3% in the fourth quarter. Alberta Investment Management Corp now owns 15,794 shares of the textile maker's stock valued at $1,062,000 after purchasing an additional 1,341 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SKX has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a research report on Tuesday, May 6th. Morgan Stanley reaffirmed an "equal weight" rating and set a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. 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. Needham & Company LLC reissued a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Finally, Wall Street Zen began coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of "Hold" and a consensus price target of $67.69.

Skechers U.S.A. Price Performance

SKX traded up $0.08 during midday trading on Wednesday, hitting $62.85. The stock had a trading volume of 4,654,463 shares, compared to its average volume of 3,468,160. Skechers U.S.A., Inc. has a 1 year low of $44.50 and a 1 year high of $78.85. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.28 and a current ratio of 2.13. The business has a fifty day moving average of $58.49 and a 200 day moving average of $61.90. The company has a market cap of $9.40 billion, a P/E ratio of 15.11 and a beta of 1.13.

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