Caisse DE Depot ET Placement DU Quebec Purchases New Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 38,139 shares of the textile maker's stock, valued at approximately $2,552,000.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 423.3% in the 3rd quarter. UMB Bank n.a. now owns 450 shares of the textile maker's stock valued at $30,000 after purchasing an additional 364 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock valued at $58,000 after acquiring an additional 299 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Skechers U.S.A. during the 3rd quarter worth $67,000. 1620 Investment Advisors Inc. bought a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at $69,000. Finally, Blue Trust Inc. lifted its stake in shares of Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker's stock valued at $69,000 after purchasing an additional 887 shares during the period. Institutional investors and hedge funds own 79.96% of the company's stock.

Skechers U.S.A. Stock Up 5.4 %

Shares of SKX traded up $3.52 during midday trading on Tuesday, hitting $69.17. The stock had a trading volume of 3,207,365 shares, compared to its average volume of 1,884,352. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 0.91 and a beta of 1.22. The company has a 50 day simple moving average of $63.53 and a two-hundred day simple moving average of $66.05. Skechers U.S.A., Inc. has a twelve month low of $55.67 and a twelve month high of $75.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The firm had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business's quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.93 EPS. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Analyst Upgrades and Downgrades

SKX has been the subject of a number of analyst reports. Barclays lifted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Morgan Stanley upped their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Bank of America reduced their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday, October 25th. Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They issued a "hold" rating for the company. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and an average target price of $78.09.

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.