Los Angeles Capital Management LLC Makes New Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Los Angeles Capital Management LLC acquired a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,139 shares of the textile maker’s stock, valued at approximately $632,000.

A number of other institutional investors have also modified their holdings of SKX. Norges Bank purchased a new stake in Skechers U.S.A. in the 4th quarter worth approximately $75,194,000. Vaughan Nelson Investment Management L.P. increased its stake in Skechers U.S.A. by 62.6% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker’s stock valued at $75,534,000 after purchasing an additional 474,524 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in Skechers U.S.A. during the fourth quarter worth about $25,681,000. Goldman Sachs Group Inc. boosted its stake in Skechers U.S.A. by 99.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 824,263 shares of the textile maker’s stock worth $51,385,000 after buying an additional 410,379 shares during the last quarter. Finally, Coronation Fund Managers Ltd. grew its holdings in Skechers U.S.A. by 195.1% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 492,585 shares of the textile maker’s stock valued at $34,047,000 after buying an additional 325,653 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SKX. Stifel Nicolaus raised their target price on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Wedbush lifted their target price on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $82.00 price objective on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Bank of America upgraded Skechers U.S.A. from a “neutral” rating to a “buy” rating and increased their target price for the company from $71.00 to $87.00 in a research note on Friday, June 7th. Finally, Evercore ISI increased their price objective on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Skechers U.S.A. has an average rating of “Buy” and a consensus target price of $76.75.

Skechers U.S.A. Price Performance

Shares of SKX stock opened at $67.30 on Friday. The firm has a market cap of $10.26 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.91 and a beta of 1.23. The firm has a fifty day moving average of $65.49 and a two-hundred day moving average of $65.18. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.06 and a quick ratio of 1.33. Skechers U.S.A., Inc. has a 1-year low of $45.58 and a 1-year high of $75.09.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, research analysts anticipate that Skechers U.S.A., Inc. will post 4.17 earnings per share 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.