Hennion & Walsh Asset Management Inc. Acquires 10,863 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Hennion & Walsh Asset Management Inc. increased its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 41.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 36,813 shares of the textile maker’s stock after purchasing an additional 10,863 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Skechers U.S.A. were worth $2,255,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of Skechers U.S.A. in the fourth quarter worth $36,000. Game Plan Financial Advisors LLC bought a new stake in shares of Skechers U.S.A. in the first quarter worth $43,000. Sunbelt Securities Inc. bought a new stake in Skechers U.S.A. during the first quarter valued at $45,000. Tradition Wealth Management LLC bought a new stake in Skechers U.S.A. during the fourth quarter valued at $56,000. Finally, Planned Solutions Inc. bought a new stake in Skechers U.S.A. during the fourth quarter valued at $70,000. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Down 1.0 %

Shares of SKX traded down $0.72 on Friday, reaching $69.12. The company’s stock had a trading volume of 3,022,233 shares, compared to its average volume of 1,931,391. The company has a current ratio of 2.39, a quick ratio of 1.56 and a debt-to-equity ratio of 0.02. Skechers U.S.A., Inc. has a twelve month low of $45.58 and a twelve month high of $75.09. The stock has a market capitalization of $10.54 billion, a PE ratio of 18.19, a PEG ratio of 1.00 and a beta of 1.28. The firm has a fifty day moving average of $68.94 and a 200-day moving average of $63.58.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 25th. The textile maker reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.23. Skechers U.S.A. had a net margin of 7.17% and a return on equity of 13.56%. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.20 billion. During the same quarter in the prior year, the business posted $1.02 EPS. The firm’s revenue was up 12.5% compared to the same quarter last year. Equities analysts predict that Skechers U.S.A., Inc. will post 4.08 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on SKX shares. TD Cowen upped their price target on shares of Skechers U.S.A. from $70.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Wells Fargo & Company started coverage on shares of Skechers U.S.A. in a research report on Wednesday, June 12th. They set an “overweight” rating and a $83.00 price target on the stock. Evercore ISI cut their price target on shares of Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 17th. Barclays started coverage on shares of Skechers U.S.A. in a research report on Monday, April 1st. They set an “overweight” rating and a $71.00 price target on the stock. Finally, Wedbush reissued an “outperform” rating and set a $76.00 price objective on shares of Skechers U.S.A. in a research report on Friday, May 17th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $72.00.

Insider Buying and Selling at Skechers U.S.A.

In other Skechers U.S.A. news, General Counsel Phillip Paccione sold 423 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $69.45, for a total value of $29,377.35. Following the completion of the sale, the general counsel now owns 35,000 shares in the company, valued at approximately $2,430,750. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 24.75% of the company’s stock.

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.