3,100 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by Foyston Gordon & Payne Inc

Foyston Gordon & Payne Inc purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 3,100 shares of the textile maker’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its stake in shares of Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock worth $30,000 after buying an additional 364 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 299 shares during the period. Blue Trust Inc. boosted its position in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after purchasing an additional 887 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Skechers U.S.A. during the 2nd quarter worth approximately $69,000. Finally, Brooklyn Investment Group purchased a new position in shares of Skechers U.S.A. during the 3rd quarter valued at approximately $67,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Up 1.3 %

Shares of Skechers U.S.A. stock opened at $72.00 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock’s 50 day simple moving average is $63.81 and its 200-day simple moving average is $66.13. The stock has a market cap of $10.87 billion, a P/E ratio of 17.73, a P/E/G ratio of 0.99 and a beta of 1.22. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09.

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

Analyst Ratings Changes

Several analysts recently commented on SKX shares. Bank of America dropped 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. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Morgan Stanley boosted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Needham & Company LLC assumed coverage on Skechers U.S.A. in a research report on Friday, November 22nd. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $78.09.

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.