GHP Investment Advisors Inc. Acquires 5,980 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

GHP Investment Advisors Inc. increased its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 29.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,402 shares of the textile maker's stock after purchasing an additional 5,980 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Skechers U.S.A. were worth $1,499,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SKX. IFP Advisors Inc raised its holdings in Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker's stock worth $55,000 after purchasing an additional 317 shares during the period. Bank of New York Mellon Corp raised its holdings in Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker's stock worth $155,209,000 after purchasing an additional 953,528 shares during the period. Proficio Capital Partners LLC bought a new position in Skechers U.S.A. in the 4th quarter worth $2,378,000. SRS Capital Advisors Inc. raised its holdings in Skechers U.S.A. by 31.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,490 shares of the textile maker's stock worth $100,000 after purchasing an additional 359 shares during the period. Finally, Jones Financial Companies Lllp raised its holdings in Skechers U.S.A. by 46.6% in the 4th quarter. Jones Financial Companies Lllp now owns 3,218 shares of the textile maker's stock worth $216,000 after purchasing an additional 1,023 shares during the period. 79.96% of the stock is owned by institutional investors.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock traded up $0.24 during trading on Friday, reaching $63.07. 7,853,227 shares of the stock traded hands, compared to its average volume of 3,493,980. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 15.16 and a beta of 1.13. The business has a fifty day simple moving average of $59.43 and a two-hundred day simple moving average of $61.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. 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 issued its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, beating analysts' consensus estimates of $1.17 by $0.17. The firm had revenue of $2.41 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.33 earnings per share. Sell-side analysts expect that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SKX shares. Stifel Nicolaus decreased their target price on Skechers U.S.A. from $80.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company increased their price target 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. Barclays reiterated an "equal weight" rating and issued a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, Skechers U.S.A. currently has an average rating of "Hold" and a consensus price target of $67.69.

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.