Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,326 shares of the textile maker’s stock after selling 219 shares during the quarter. D.A. Davidson & CO.’s holdings in Skechers U.S.A. were worth $423,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Seven Eight Capital LP boosted its holdings in Skechers U.S.A. by 126.1% during the second 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 in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Skechers U.S.A. in the 1st quarter worth approximately $600,000. Vista Investment Partners LLC purchased a new position in Skechers U.S.A. in the 2nd quarter valued at approximately $925,000. Assenagon Asset Management S.A. raised its holdings in Skechers U.S.A. by 36.5% during 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. Finally, Victory Capital Management Inc. boosted its position in Skechers U.S.A. by 22.3% during the third quarter. Victory Capital Management Inc. now owns 138,893 shares of the textile maker’s stock worth $9,295,000 after purchasing an additional 25,289 shares in the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $69.17 on Wednesday. The company has a market cap of $10.44 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.91 and a beta of 1.22. The business has a fifty day simple moving average of $63.53 and a 200-day simple moving average of $66.05. Skechers U.S.A., Inc. has a 52 week low of $55.67 and a 52 week high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. The company had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. Equities research analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Barclays lifted their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Bank of America cut their target price 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. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Finally, Needham & Company LLC began coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating on the stock. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

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.