Skechers U.S.A., Inc. (NYSE:SKX) Holdings Decreased by Zacks Investment Management

Zacks Investment Management lessened its position in shares of Skechers U.S.A., Inc. (NYSE:SKX - Free Report) by 84.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,488 shares of the textile maker's stock after selling 24,918 shares during the period. Zacks Investment Management's holdings in Skechers U.S.A. were worth $300,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SKX. Pacer Advisors Inc. lifted its holdings in shares of Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker's stock worth $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Skechers U.S.A. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker's stock valued at $130,350,000 after acquiring an additional 55,095 shares during the period. Charles Schwab Investment Management Inc. increased its position in Skechers U.S.A. by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker's stock valued at $88,126,000 after acquiring an additional 17,429 shares during the period. Wellington Management Group LLP increased its position in Skechers U.S.A. by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker's stock valued at $68,630,000 after acquiring an additional 287,939 shares during the period. Finally, Loomis Sayles & Co. L P increased its position in Skechers U.S.A. by 7.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker's stock valued at $50,328,000 after acquiring an additional 49,734 shares during the period. Institutional investors own 79.96% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Barclays raised their target price on Skechers U.S.A. from $79.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. TD Cowen lowered their target price on Skechers U.S.A. from $78.00 to $76.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Morgan Stanley raised their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the company an "overweight" rating in a research report on Friday, October 25th. Needham & Company LLC started coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They set a "hold" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $77.00.

Skechers U.S.A. Price Performance

Shares of NYSE SKX traded up $0.60 during mid-day trading on Wednesday, reaching $70.99. The company had a trading volume of 1,335,239 shares, compared to its average volume of 1,889,199. 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 cap of $10.72 billion, a PE ratio of 17.49, a P/E/G ratio of 0.99 and a beta of 1.22. The company has a 50-day moving average price of $63.97 and a two-hundred day moving average price of $66.18. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09.

Skechers U.S.A. (NYSE:SKX - Get Free Report) last issued its earnings results 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 business 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 company's quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.93 EPS. On average, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

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.