Sanctuary Advisors LLC Increases Stake in Skechers U.S.A., Inc. (NYSE:SKX)

Sanctuary Advisors LLC increased its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 88.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,538 shares of the textile maker's stock after buying an additional 13,836 shares during the period. Sanctuary Advisors LLC's holdings in Skechers U.S.A. were worth $1,822,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its stake in Skechers U.S.A. by 4.7% during the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker's stock worth $264,000 after buying an additional 173 shares in the last quarter. Lindenwold Advisors INC raised its stake in Skechers U.S.A. by 3.0% in the 3rd 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 raised its stake in 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 last quarter. Edgestream Partners L.P. lifted its holdings in Skechers U.S.A. by 2.8% in the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker's stock valued at $586,000 after purchasing an additional 236 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Skechers U.S.A. by 18.8% during the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker's stock worth $112,000 after buying an additional 265 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SKX. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They issued a "hold" rating on the stock. Piper Sandler assumed coverage on Skechers U.S.A. in a research report on Tuesday, December 10th. They issued a "neutral" rating and a $65.00 price target for the company. StockNews.com upgraded Skechers U.S.A. from a "hold" rating to a "buy" rating in a research report on Thursday. Morgan Stanley upped their target price 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. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of 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. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $77.00.

Skechers U.S.A. Trading Up 2.1 %

Shares of Skechers U.S.A. stock traded up $1.36 on Friday, reaching $67.65. The company had a trading volume of 7,047,346 shares, compared to its average volume of 1,902,390. The firm's 50 day moving average price is $64.18 and its two-hundred day moving average price is $66.13. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. 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 market cap of $10.21 billion, a PE ratio of 16.66, a PEG ratio of 0.98 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the company earned $0.93 earnings per share. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts predict that Skechers U.S.A., Inc. will post 4.24 earnings per share for the current fiscal year.

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.