Oliver Lagore Vanvalin Investment Group purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX – Get Rating) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,148 shares of the textile maker’s stock, valued at approximately $49,000.
Several other institutional investors have also recently bought and sold shares of SKX. Teacher Retirement System of Texas raised its stake in Skechers U.S.A. by 19.2% during the fourth quarter. Teacher Retirement System of Texas now owns 26,049 shares of the textile maker’s stock worth $1,131,000 after acquiring an additional 4,197 shares in the last quarter. TD Asset Management Inc. raised its stake in Skechers U.S.A. by 106.6% during the fourth quarter. TD Asset Management Inc. now owns 79,266 shares of the textile maker’s stock worth $3,440,000 after acquiring an additional 40,891 shares in the last quarter. Citigroup Inc. raised its stake in Skechers U.S.A. by 22.0% during the fourth quarter. Citigroup Inc. now owns 48,976 shares of the textile maker’s stock worth $2,126,000 after acquiring an additional 8,824 shares in the last quarter. Rhumbline Advisers raised its stake in Skechers U.S.A. by 0.6% during the fourth quarter. Rhumbline Advisers now owns 357,696 shares of the textile maker’s stock worth $15,524,000 after acquiring an additional 2,264 shares in the last quarter. Finally, Covestor Ltd acquired a new position in Skechers U.S.A. during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 81.64% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have commented on SKX shares. Monness Crespi & Hardt lowered their target price on Skechers U.S.A. to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. UBS Group lowered their price objective on Skechers U.S.A. from $67.00 to $56.00 in a research note on Friday, July 15th. Wedbush lowered their price objective on Skechers U.S.A. from $48.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Morgan Stanley lowered their price objective on Skechers U.S.A. from $62.00 to $59.00 and set an “overweight” rating for the company in a research note on Wednesday, July 27th. Finally, Argus raised Skechers U.S.A. from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Wednesday, June 15th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.89.
Insiders Place Their Bets
Skechers U.S.A. Stock Performance
Shares of SKX stock opened at $35.86 on Friday. The business’s 50 day simple moving average is $38.16 and its 200 day simple moving average is $38.44. Skechers U.S.A., Inc. has a one year low of $33.50 and a one year high of $50.81. The stock has a market capitalization of $5.60 billion, a PE ratio of 7.85 and a beta of 1.28. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.34 and a quick ratio of 1.31.
Skechers U.S.A. (NYSE:SKX – Get Rating) last announced its earnings results on Tuesday, July 26th. The textile maker reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. The business had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Skechers U.S.A. had a return on equity of 10.96% and a net margin of 10.41%. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 2.64 earnings per share for the current year.
About Skechers U.S.A.
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women worldwide. The company operates through three segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the Skechers Mega-Craft, S-Lights, SKECH-AIR, Foamies, Twinkle Toes, Z-Strap, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands.
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