Lindenwold Advisors INC Has $446,000 Position in Skechers U.S.A., Inc. (NYSE:SKX)

Lindenwold Advisors INC grew its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,663 shares of the textile maker’s stock after buying an additional 195 shares during the quarter. Lindenwold Advisors INC’s holdings in Skechers U.S.A. were worth $446,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SKX. Bessemer Group Inc. grew its stake 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 valued at $25,000 after purchasing an additional 164 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Skechers U.S.A. by 4.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after buying an additional 173 shares during the last quarter. X Square Capital LLC grew its stake in shares of Skechers U.S.A. by 0.5% in the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after buying an additional 215 shares in the last quarter. Covestor Ltd increased its holdings in Skechers U.S.A. by 18.8% during the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock worth $112,000 after buying an additional 265 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in Skechers U.S.A. by 2.6% during the third quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock worth $747,000 after acquiring an additional 284 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on SKX. Evercore ISI lifted their price objective on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. StockNews.com upgraded Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Stifel Nicolaus boosted their price target on Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft raised their price objective on 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. Finally, Wedbush boosted their target price on Skechers U.S.A. from $76.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Twelve research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $78.09.

Skechers U.S.A. Stock Performance

NYSE:SKX opened at $60.77 on Tuesday. The stock has a 50 day simple moving average of $64.13 and a 200 day simple moving average of $66.44. The stock has a market cap of $9.17 billion, a P/E ratio of 14.97, a PEG ratio of 0.84 and a beta of 1.23. Skechers U.S.A., Inc. has a 1-year low of $52.49 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.

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

Skechers U.S.A. declared that its Board of Directors has approved a stock buyback program on Thursday, July 25th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the textile maker to purchase up to 10.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.