Skechers U.S.A., Inc. (NYSE:SKX) Position Cut by National Bank of Canada FI

National Bank of Canada FI lessened its position in Skechers U.S.A., Inc. (NYSE:SKX) by 18.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,898 shares of the textile maker’s stock after selling 670 shares during the period. National Bank of Canada FI’s holdings in Skechers U.S.A. were worth $196,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new stake in shares of Skechers U.S.A. during the first quarter valued at approximately $25,000. Bessemer Group Inc. raised 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 valued at $25,000 after acquiring an additional 164 shares in the last quarter. Game Plan Financial Advisors LLC acquired a new position in Skechers U.S.A. during the 1st quarter worth $43,000. Versant Capital Management Inc grew its stake in shares of Skechers U.S.A. by 2,809.1% in the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after purchasing an additional 618 shares in the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of Skechers U.S.A. during the first quarter valued at $45,000. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Trading Up 1.4 %

Skechers U.S.A. stock opened at $67.30 on Friday. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.06. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 0.91 and a beta of 1.23. The company has a 50 day moving average price of $65.49 and a 200 day moving average price of $65.18.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS for the quarter, missing the consensus estimate of $0.95 by ($0.04). Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the business earned $0.98 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. Research analysts forecast that Skechers U.S.A., Inc. will post 4.17 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America upgraded shares of Skechers U.S.A. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $71.00 to $87.00 in a research report on Friday, June 7th. Wedbush lifted their price target on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays upped their price objective on Skechers U.S.A. from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, July 26th. TD Cowen lifted their target price on Skechers U.S.A. from $77.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company initiated coverage on shares of Skechers U.S.A. in a report on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price target for the company. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $76.75.

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.