Skechers U.S.A., Inc. $SKX Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 297.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,779 shares of the textile maker’s stock after purchasing an additional 25,283 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Skechers U.S.A. were worth $2,138,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA acquired a new position in Skechers U.S.A. during the 1st quarter valued at approximately $26,000. Parallel Advisors LLC boosted its position in Skechers U.S.A. by 183.0% during 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. Golden State Wealth Management LLC acquired a new position in Skechers U.S.A. during the 1st quarter valued at approximately $35,000. Abound Financial LLC acquired a new position in Skechers U.S.A. during the 1st quarter valued at approximately $35,000. Finally, Olde Wealth Management LLC acquired a new position in Skechers U.S.A. during the 1st quarter valued at approximately $37,000. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on SKX shares. Needham & Company LLC reiterated a “hold” rating on shares of Skechers U.S.A. in a research report on Wednesday, August 27th. Zacks Research raised Skechers U.S.A. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Argus downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a research note on Tuesday, August 26th. Finally, Wall Street Zen raised Skechers U.S.A. to a “hold” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Hold” and a consensus target price of $66.46.

Skechers U.S.A. Price Performance

Shares of Skechers U.S.A. stock opened at $63.13 on Monday. The stock’s fifty day moving average is $63.10 and its 200-day moving average is $59.81. The firm has a market capitalization of $9.49 billion, a PE ratio of 14.41 and a beta of 1.19. The company has a quick ratio of 1.29, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.27. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.35 billion. Skechers U.S.A. had a return on equity of 13.44% and a net margin of 7.07%.Skechers U.S.A.’s revenue for the quarter was up 13.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. Equities analysts anticipate that Skechers U.S.A., Inc. will post 4.47 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 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.