Outfitter Financial LLC bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,645 shares of the textile maker's stock, valued at approximately $434,000.
Other institutional investors have also made changes to their positions in the company. NewEdge Advisors LLC increased its holdings 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 acquiring an additional 190 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in shares of 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 buying an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in Skechers U.S.A. in the 4th quarter worth about $32,000. Parallel Advisors LLC increased its holdings in Skechers U.S.A. by 183.0% in 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 in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Skechers U.S.A. in the 1st quarter worth about $35,000. 79.96% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have issued reports on SKX. Evercore ISI lowered their target price 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. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price target for the company. in a research note on Wednesday, May 28th. Wall Street Zen initiated coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a "sell" rating for the company. Wells Fargo & Company raised their target price on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley reissued 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 note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $67.69.
Check Out Our Latest Research Report on Skechers U.S.A.
Skechers U.S.A. Price Performance
Skechers U.S.A. stock traded up $0.01 during midday trading on Friday, hitting $63.06. 466,296 shares of the company's stock were exchanged, compared to its average volume of 3,571,807. Skechers U.S.A., Inc. has a 52-week low of $44.50 and a 52-week high of $78.85. The stock has a 50-day moving average price of $62.53 and a two-hundred day moving average price of $61.31. 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 company has a market cap of $9.43 billion, a P/E ratio of 15.16 and a beta of 1.12.
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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to analysts' expectations of $2.43 billion. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The company's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.33 EPS. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.
Skechers U.S.A. Company Profile
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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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