Outfitter Financial LLC Invests $434,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Outfitter Financial LLC bought a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 7,645 shares of the textile maker's stock, valued at approximately $434,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its holdings in Skechers U.S.A. by 49.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 90,309 shares of the textile maker's stock valued at $5,192,000 after purchasing an additional 30,053 shares during the period. Raymond James Financial Inc. bought a new stake in Skechers U.S.A. in the 4th quarter valued at $12,852,000. Vontobel Holding Ltd. increased its holdings in Skechers U.S.A. by 130.5% in the 1st quarter. Vontobel Holding Ltd. now owns 11,190 shares of the textile maker's stock valued at $635,000 after buying an additional 6,335 shares during the period. Hudson Bay Capital Management LP bought a new stake in Skechers U.S.A. in the 4th quarter valued at $5,804,000. Finally, Praxis Investment Management Inc. bought a new stake in Skechers U.S.A. in the 1st quarter valued at $232,000. Institutional investors own 79.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SKX shares. Barclays reissued an "equal weight" rating and issued a $63.00 target price (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. Raymond James Financial cut Skechers U.S.A. from a "moderate buy" rating to a "hold" rating in a report on Monday, May 5th. TD Cowen cut Skechers U.S.A. from a "buy" rating to a "hold" rating and set a $63.00 price objective for the company. in a report on Wednesday, May 28th. Evercore ISI cut 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. Finally, Wells Fargo & Company lifted their price objective on Skechers U.S.A. from $57.00 to $63.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $67.69.

Skechers U.S.A. Price Performance

Shares of SKX stock traded up $0.04 during trading hours on Monday, hitting $63.12. 598,047 shares of the company's stock were exchanged, compared to its average volume of 3,576,132. The stock's 50-day moving average is $62.56 and its 200-day moving average is $61.20. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 15.17 and a beta of 1.12. 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. The company 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 business's revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $1.33 EPS. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

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.