Candriam S.C.A. Buys Shares of 44,367 Skechers U.S.A., Inc. (NYSE:SKX)

Candriam S.C.A. purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 44,367 shares of the textile maker’s stock, valued at approximately $3,067,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Redmont Wealth Advisors LLC bought a new position in Skechers U.S.A. in the 1st quarter worth $25,000. Bessemer Group Inc. increased its position in Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after buying an additional 164 shares in the last quarter. Versant Capital Management Inc raised 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 buying an additional 618 shares during the period. Game Plan Financial Advisors LLC purchased a new position in shares of Skechers U.S.A. during the 1st quarter valued at about $43,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of Skechers U.S.A. during the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Down 0.1 %

Shares of Skechers U.S.A. stock opened at $66.01 on Tuesday. 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 business has a 50-day moving average price of $65.57 and a 200-day moving average price of $65.09. The firm has a market cap of $10.07 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.91 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, July 25th. The textile maker reported $0.91 EPS 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 firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the company posted $0.98 earnings per share. Skechers U.S.A.’s quarterly revenue was up 7.3% on a year-over-year basis. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on SKX. Wells Fargo & Company started coverage on shares of Skechers U.S.A. in a research note on Wednesday, June 12th. They set an “overweight” rating and a $83.00 target price on the stock. Wedbush increased their price objective on shares of Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their target price on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Barclays upped their target price on shares of Skechers U.S.A. from $78.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Morgan Stanley raised Skechers U.S.A. from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $60.00 to $80.00 in a report on Tuesday, July 23rd. Thirteen analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $76.75.

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.