Public Employees Retirement System of Ohio Acquires 8,560 Shares of Skechers U.S.A., Inc. $SKX

Public Employees Retirement System of Ohio lifted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 17.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,363 shares of the textile maker’s stock after purchasing an additional 8,560 shares during the period. Public Employees Retirement System of Ohio’s holdings in Skechers U.S.A. were worth $3,557,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in shares of Skechers U.S.A. during the 1st quarter worth $26,000. Parallel Advisors LLC raised its stake in shares of Skechers U.S.A. by 183.0% during the 1st 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. Golden State Wealth Management LLC bought a new stake in shares of Skechers U.S.A. during the 1st quarter worth $35,000. Abound Financial LLC bought a new stake in shares of Skechers U.S.A. during the 1st quarter worth $35,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Skechers U.S.A. during the 1st quarter worth $37,000. 79.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SKX has been the topic of a number of recent analyst reports. Zacks Research upgraded Skechers U.S.A. from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 26th. Wall Street Zen raised Skechers U.S.A. to a “hold” rating in a report on Saturday, August 30th. Needham & Company LLC reissued a “hold” rating on shares of Skechers U.S.A. in a report on Wednesday, August 27th. Finally, Argus lowered Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $66.46.

Skechers U.S.A. Price Performance

SKX stock opened at $63.13 on Wednesday. The company has a quick ratio of 1.29, a current ratio of 2.09 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $9.49 billion, a PE ratio of 14.41 and a beta of 1.19. Skechers U.S.A., Inc. has a twelve month low of $44.50 and a twelve month high of $78.85. The stock has a 50-day simple moving average of $63.10 and a two-hundred day simple moving average of $59.88.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Friday, August 8th. The textile maker reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.27. The business had revenue of $2.44 billion during 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%.The company’s quarterly revenue was up 13.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. On average, equities analysts predict that Skechers U.S.A., Inc. will post 4.47 EPS for the current fiscal year.

Skechers U.S.A. 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.