Eagle Asset Management Inc. Acquires 36,921 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Eagle Asset Management Inc. grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 133.2% in the third quarter, Holdings Channel.com reports. The firm owned 64,630 shares of the textile maker’s stock after buying an additional 36,921 shares during the period. Eagle Asset Management Inc.’s holdings in Skechers U.S.A. were worth $4,026,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SKX. Bessemer Group Inc. boosted its position in Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after purchasing an additional 164 shares during the period. UMB Bank n.a. boosted its position in shares of Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares during the period. Versant Capital Management Inc boosted its position 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 valued at $44,000 after acquiring an additional 618 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Skechers U.S.A. by 52.9% in the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock valued at $58,000 after acquiring an additional 299 shares during the period. Finally, 1620 Investment Advisors Inc. bought a new position in shares of Skechers U.S.A. in the second quarter valued at approximately $69,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Trading Up 1.1 %

SKX stock opened at $61.69 on Monday. The company has a market capitalization of $9.31 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.23. Skechers U.S.A., Inc. has a one year low of $54.95 and a one year high of $75.09. The company’s 50 day moving average price is $63.61 and its two-hundred day moving average price is $66.24. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96.

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, topping the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue was up 16.0% compared to the same quarter last year. As a group, analysts predict that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SKX has been the subject of a number of analyst reports. StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research report on Tuesday, November 12th. TD Cowen cut their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Needham & Company LLC began coverage on shares of Skechers U.S.A. in a research report on Friday. They set a “hold” rating for the company. Finally, Bank of America dropped 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. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Skechers U.S.A. presently has an average rating of “Moderate Buy” and an average target price of $78.09.

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.