Kestra Investment Management LLC acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 13,909 shares of the textile maker's stock, valued at approximately $931,000.
Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. raised its holdings in 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 worth $30,000 after acquiring an additional 364 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker's stock valued at $44,000 after buying an additional 618 shares during the last quarter. Venturi Wealth Management LLC raised its position in Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker's stock worth $58,000 after buying an additional 299 shares during the last quarter. Brooklyn Investment Group bought a new position in Skechers U.S.A. during the 3rd quarter valued at about $67,000. Finally, 1620 Investment Advisors Inc. purchased a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at about $69,000. 79.96% of the stock is owned by institutional investors.
Skechers U.S.A. Price Performance
Shares of SKX traded up $2.42 during mid-day trading on Monday, hitting $66.24. 1,202,370 shares of the stock were exchanged, compared to its average volume of 1,869,878. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The company has a market cap of $10.00 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 0.89 and a beta of 1.23. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. The firm has a 50-day moving average of $63.39 and a two-hundred day moving average of $66.06.
Skechers U.S.A. (NYSE:SKX - Get Free Report) last released its quarterly earnings data 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 earnings per share. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.
Analysts Set New Price Targets
Several research analysts have recently weighed in on SKX shares. Barclays boosted 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 report on Friday, October 25th. Morgan Stanley raised their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an "overweight" rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their price objective on Skechers U.S.A. from $83.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, October 25th. Needham & Company LLC began coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They set a "hold" rating for the company. Finally, Bank of America cut their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a "buy" rating for the company in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.09.
Read Our Latest Stock Analysis on SKX
Skechers U.S.A. Profile
(
Free Report)
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.
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