Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,496 shares of the textile maker’s stock after acquiring an additional 475 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Skechers U.S.A. were worth $482,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC raised its stake in Skechers U.S.A. by 85.2% during the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after purchasing an additional 190 shares during the period. TD Private Client Wealth LLC raised its stake 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 worth $29,000 after purchasing an additional 358 shares during the period. Investment Management Corp VA ADV purchased a new position in Skechers U.S.A. during the fourth quarter worth approximately $32,000. Parallel Advisors LLC raised its stake in Skechers U.S.A. by 183.0% during the first quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock worth $35,000 after purchasing an additional 399 shares during the period. Finally, UMB Bank n.a. raised its stake in Skechers U.S.A. by 120.3% during the first quarter. UMB Bank n.a. now owns 1,518 shares of the textile maker’s stock worth $86,000 after purchasing an additional 829 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Monness Crespi & Hardt downgraded shares of Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Barclays reaffirmed an “equal weight” rating and set a $63.00 price target (up previously from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $63.00 price target (down previously from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Wells Fargo & Company raised their target price on shares of Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Finally, UBS Group reissued 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. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $67.69.

Skechers U.S.A. Stock Performance

Skechers U.S.A. stock opened at $63.27 on Friday. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a market capitalization of $9.47 billion, a price-to-earnings ratio of 15.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The firm’s fifty day moving average price is $60.91 and its 200 day moving average price is $61.54.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a net margin of 6.96% and a return on equity of 13.34%. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the firm posted $1.33 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS 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.