4,080 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by Praxis Investment Management Inc.

Praxis Investment Management Inc. acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,080 shares of the textile maker's stock, valued at approximately $232,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SKX. NewEdge Advisors LLC grew its holdings in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker's stock valued at $28,000 after purchasing an additional 190 shares during the last quarter. TD Private Client Wealth LLC lifted its holdings in shares of Skechers U.S.A. by 534.3% during the fourth 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 during the last quarter. Investment Management Corp VA ADV bought a new position in Skechers U.S.A. during the fourth quarter worth $32,000. Parallel Advisors LLC raised its stake in Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker's stock valued at $35,000 after purchasing an additional 399 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new stake in Skechers U.S.A. in the 1st quarter worth $39,000. Institutional investors own 79.96% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SKX shares. 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. Wells Fargo & Company increased their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Monness Crespi & Hardt cut Skechers U.S.A. from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 7th. Barclays restated 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research report on Tuesday, April 22nd. One 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 data from MarketBeat.com, Skechers U.S.A. currently has a consensus rating of "Hold" and a consensus target price of $67.69.

Skechers U.S.A. Price Performance

NYSE SKX traded up $0.24 on Friday, hitting $63.07. 7,853,009 shares of the company were exchanged, compared to its average volume of 3,487,583. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The firm has a 50 day moving average of $59.12 and a two-hundred day moving average of $61.84. 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 has a market cap of $9.44 billion, a P/E ratio of 15.16 and a beta of 1.13.

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 the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current 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.