Skechers U.S.A., Inc. (NYSE:SKX) Position Boosted by Commerce Bank

Commerce Bank boosted its stake in Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 949.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 467,774 shares of the textile maker's stock after acquiring an additional 423,204 shares during the quarter. Commerce Bank owned about 0.31% of Skechers U.S.A. worth $31,303,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Coronation Fund Managers Ltd. lifted its stake in shares of Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker's stock worth $33,382,000 after acquiring an additional 394,618 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Skechers U.S.A. during the 2nd quarter valued at approximately $22,425,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Skechers U.S.A. by 646.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker's stock valued at $22,348,000 after buying an additional 280,000 shares during the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in shares of Skechers U.S.A. during the third quarter worth approximately $16,790,000. Finally, Bwcp LP bought a new stake in shares of Skechers U.S.A. in the second quarter worth $16,324,000. Institutional investors and hedge funds own 79.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on SKX shares. 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. Deutsche Bank Aktiengesellschaft boosted their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a report on Friday, October 25th. Wedbush upped their price objective on Skechers U.S.A. from $76.00 to $79.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Morgan Stanley lifted their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Finally, Stifel Nicolaus upped their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Twelve analysts have rated the stock with a buy rating, According to MarketBeat.com, Skechers U.S.A. has a consensus rating of "Buy" and a consensus price target of $78.09.

Skechers U.S.A. Stock Performance

SKX opened at $59.82 on Thursday. Skechers U.S.A., Inc. has a twelve month low of $54.10 and a twelve month high of $75.09. The stock has a market cap of $9.03 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. The business's 50 day moving average is $63.83 and its 200-day moving average is $66.32. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

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

Skechers U.S.A. announced that its Board of Directors has approved a stock buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the textile maker to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its shares are undervalued.

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.