Jefferies Financial Group Inc. lessened its holdings in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 69.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,087 shares of the textile maker's stock after selling 11,419 shares during the period. Jefferies Financial Group Inc.'s holdings in Skechers U.S.A. were worth $289,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. NewEdge Advisors LLC increased its stake in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Skechers U.S.A. during the 4th quarter worth about $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 worth $35,000 after purchasing an additional 399 shares during the last quarter. Golden State Wealth Management LLC acquired a new position in shares of Skechers U.S.A. during the 1st quarter worth about $35,000. Finally, Abound Financial LLC acquired a new position in shares of Skechers U.S.A. during the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 79.96% of the company's stock.
Analyst Ratings Changes
Several research analysts recently weighed in on the stock. Morgan Stanley restated an "equal weight" rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Raymond James Financial downgraded shares of Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a research report on Monday, May 5th. Needham & Company LLC restated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Evercore ISI cut their price objective 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 equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $66.75.
Read Our Latest Stock Report on Skechers U.S.A.
Skechers U.S.A. Trading Down 0.0%
Skechers U.S.A. stock traded down $0.02 during trading on Tuesday, hitting $62.90. The company had a trading volume of 1,766,822 shares, compared to its average volume of 4,605,231. 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 current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The company's 50 day simple moving average is $62.89 and its 200-day simple moving average is $60.30. The stock has a market cap of $9.41 billion, a price-to-earnings ratio of 14.36 and a beta of 1.16.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The textile maker reported $1.13 EPS for the quarter, beating the consensus estimate of $0.86 by $0.27. Skechers U.S.A. had a net margin of 7.07% and a return on equity of 13.73%. The company had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the company posted $0.91 EPS. The firm's revenue was up 13.1% compared to the same quarter last year. As a group, analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.
Skechers U.S.A. Profile
(
Free Report)
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.
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