Eagle Asset Management Inc. Purchases 36,921 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Eagle Asset Management Inc. boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 133.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,630 shares of the textile maker's stock after purchasing an additional 36,921 shares during the period. Eagle Asset Management Inc.'s holdings in Skechers U.S.A. were worth $4,026,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in SKX. Bessemer Group Inc. lifted its position in shares of Skechers U.S.A. by 66.7% during the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker's stock valued at $25,000 after acquiring an additional 164 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Skechers U.S.A. by 4.7% during the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker's stock worth $264,000 after purchasing an additional 173 shares during the period. Lindenwold Advisors INC lifted its holdings in shares of Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker's stock valued at $446,000 after purchasing an additional 195 shares during the last quarter. X Square Capital LLC boosted its position in shares of Skechers U.S.A. by 0.5% in the 2nd quarter. X Square Capital LLC now owns 40,903 shares of the textile maker's stock valued at $2,827,000 after purchasing an additional 215 shares during the period. Finally, Covestor Ltd increased its stake in Skechers U.S.A. by 18.8% in the 3rd quarter. Covestor Ltd now owns 1,678 shares of the textile maker's stock worth $112,000 after purchasing an additional 265 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Up 2.9 %

NYSE SKX traded up $1.79 during trading on Monday, reaching $63.48. The company's stock had a trading volume of 1,778,684 shares, compared to its average volume of 1,881,412. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $9.58 billion, a PE ratio of 15.19, a PEG ratio of 0.86 and a beta of 1.23. Skechers U.S.A., Inc. has a 1-year low of $55.51 and a 1-year high of $75.09. The business has a 50-day moving average price of $63.61 and a 200-day moving average price of $66.24.

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

Wall Street Analysts Forecast Growth

SKX has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a research note on Friday, October 25th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a research note on Friday. They issued a "hold" rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, October 25th. TD Cowen reduced their target price on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating for the company in a report on Monday, October 14th. Finally, Morgan Stanley lifted their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a report on Friday, October 25th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, Skechers U.S.A. presently has a consensus rating of "Moderate Buy" and a consensus target price of $78.09.

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.