UMB Bank n.a. Has $86,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

UMB Bank n.a. raised its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 120.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,518 shares of the textile maker’s stock after buying an additional 829 shares during the quarter. UMB Bank n.a.’s holdings in Skechers U.S.A. were worth $86,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SKX. NewEdge Advisors LLC increased its stake in Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares during the period. TD Private Client Wealth LLC boosted its holdings in Skechers U.S.A. by 534.3% during the fourth quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after purchasing an additional 358 shares in the last quarter. Investment Management Corp VA ADV acquired a new stake in Skechers U.S.A. during the fourth quarter valued at approximately $32,000. Parallel Advisors LLC grew its stake in shares of Skechers U.S.A. by 183.0% in the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after purchasing an additional 399 shares during the period. Finally, IFP Advisors Inc raised its holdings in shares of Skechers U.S.A. by 62.4% in the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after buying an additional 317 shares in the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

SKX has been the topic of several recent analyst reports. Bank of America decreased their price target on Skechers U.S.A. from $76.00 to $70.00 and set a “buy” rating on the stock in a research note on Monday, March 24th. UBS Group restated a “neutral” rating and issued a $63.00 target price (down previously from $64.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wall Street Zen started coverage on shares of Skechers U.S.A. in a report on Thursday, May 22nd. They issued a “sell” rating on the stock. Morgan Stanley reissued an “equal weight” rating and set a $63.00 price target (down from $73.00) on shares of Skechers U.S.A. in a report on Wednesday, May 7th. Finally, Wells Fargo & Company boosted their price target on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research report on Tuesday, May 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $67.69.

Skechers U.S.A. Trading Up 0.2%

SKX opened at $62.71 on Friday. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The stock has a market capitalization of $9.38 billion, a PE ratio of 15.11, a PEG ratio of 1.11 and a beta of 1.13. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average price of $56.23 and a two-hundred day moving average price of $62.17.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 EPS for the quarter, beating the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 7.13% and a return on equity of 13.73%. The business had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the prior year, the firm earned $1.33 earnings per share. Skechers U.S.A.’s revenue was up 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal 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.