Cascade Investment Advisors Inc. Buys 2,005 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Cascade Investment Advisors Inc. lifted its position in Skechers U.S.A., Inc. (NYSE:SKX) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,105 shares of the textile maker’s stock after buying an additional 2,005 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Skechers U.S.A. were worth $1,546,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of SKX. Vaughan Nelson Investment Management L.P. lifted its position in Skechers U.S.A. by 62.6% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,232,993 shares of the textile maker’s stock worth $75,534,000 after acquiring an additional 474,524 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new position in shares of Skechers U.S.A. in the fourth quarter worth about $25,681,000. Goldman Sachs Group Inc. lifted its position in shares of Skechers U.S.A. by 99.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 824,263 shares of the textile maker’s stock worth $51,385,000 after purchasing an additional 410,379 shares during the last quarter. Coronation Fund Managers Ltd. boosted its stake in Skechers U.S.A. by 195.1% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 492,585 shares of the textile maker’s stock valued at $34,047,000 after purchasing an additional 325,653 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Skechers U.S.A. in the 2nd quarter valued at approximately $22,425,000. 79.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on SKX. Stifel Nicolaus upped their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Morgan Stanley raised shares of Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $60.00 to $80.00 in a research report on Tuesday, July 23rd. Bank of America reduced their price target on shares of Skechers U.S.A. from $87.00 to $81.00 and set a “buy” rating for the company in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $82.00 price objective on shares of Skechers U.S.A. in a report on Thursday, June 13th. Finally, Wedbush increased their target price on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Buy” and an average price target of $77.82.

Skechers U.S.A. Stock Performance

NYSE SKX opened at $66.32 on Thursday. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01. The company’s 50-day simple moving average is $65.54 and its 200 day simple moving average is $65.66. The stock has a market cap of $10.11 billion, a P/E ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.04). Skechers U.S.A. had a net margin of 6.90% and a return on equity of 13.04%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the company earned $0.98 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.16 earnings per share for the current fiscal year.

Skechers U.S.A. declared that its board has initiated a share repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the textile maker to reacquire up to 10.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

About Skechers U.S.A.

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.