First Horizon Advisors Inc. Grows Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

First Horizon Advisors Inc. increased its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 23.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,545 shares of the textile maker’s stock after purchasing an additional 290 shares during the quarter. First Horizon Advisors Inc.’s holdings in Skechers U.S.A. were worth $103,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in SKX. Bessemer Group Inc. boosted its stake in Skechers U.S.A. by 66.7% during the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after purchasing an additional 164 shares during the last quarter. CIBC Asset Management Inc boosted its position in Skechers U.S.A. by 4.7% during the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after acquiring an additional 173 shares during the last quarter. Lindenwold Advisors INC boosted its position in Skechers U.S.A. by 3.0% during the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock worth $446,000 after acquiring an additional 195 shares during the last quarter. X Square Capital LLC raised its holdings in Skechers U.S.A. by 0.5% in the 2nd quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after acquiring an additional 215 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Skechers U.S.A. by 18.8% in the 3rd quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after acquiring an additional 265 shares during the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Up 1.1 %

Shares of SKX stock opened at $61.69 on Friday. Skechers U.S.A., Inc. has a 1-year low of $54.95 and a 1-year high of $75.09. The firm has a market cap of $9.31 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. The company has a 50-day moving average of $63.61 and a two-hundred day moving average of $66.24. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company posted $0.93 EPS. On average, analysts predict that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SKX shares. Deutsche Bank Aktiengesellschaft upped their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Barclays upped their target price on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Bank of America lowered their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Needham & Company LLC initiated coverage on shares of Skechers U.S.A. in a research report on Friday. They set a “hold” rating for the company. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $78.09.

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.