Citigroup Inc. Purchases 171 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Citigroup Inc. grew its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 0.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 128,637 shares of the textile maker’s stock after acquiring an additional 171 shares during the quarter. Citigroup Inc.’s holdings in Skechers U.S.A. were worth $8,608,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Seven Eight Capital LP lifted its position in Skechers U.S.A. by 126.1% in the 2nd quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock worth $2,033,000 after buying an additional 16,408 shares during the last quarter. Cetera Advisors LLC purchased a new stake in shares of Skechers U.S.A. in the 1st quarter valued at $600,000. Vista Investment Partners LLC bought a new position in shares of Skechers U.S.A. during the 2nd quarter valued at $925,000. First Hawaiian Bank purchased a new position in Skechers U.S.A. in the 2nd quarter worth $673,000. Finally, Assenagon Asset Management S.A. lifted its stake in Skechers U.S.A. by 36.5% in the second quarter. Assenagon Asset Management S.A. now owns 193,363 shares of the textile maker’s stock worth $13,365,000 after purchasing an additional 51,673 shares during the last quarter. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Trading Up 0.3 %

Shares of SKX opened at $63.89 on Friday. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The firm’s 50-day moving average price is $63.39 and its 200-day moving average price is $66.11. The firm has a market capitalization of $9.65 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 0.88 and a beta of 1.23.

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, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the firm posted $0.93 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SKX. StockNews.com cut Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. Needham & Company LLC assumed coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price objective on 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. Morgan Stanley lifted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, 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 for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. has an average rating of “Moderate Buy” and a consensus target price of $78.09.

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.