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

Eagle Asset Management Inc. lifted its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 133.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,630 shares of the textile maker’s stock after purchasing an additional 36,921 shares during the quarter. 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 and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Eight Capital LP grew its holdings in shares of Skechers U.S.A. by 126.1% during the 2nd quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock valued at $2,033,000 after purchasing an additional 16,408 shares during the last quarter. Cetera Advisors LLC bought a new stake in Skechers U.S.A. during the 1st quarter worth approximately $600,000. Vista Investment Partners LLC bought a new stake in Skechers U.S.A. during the 2nd quarter worth approximately $925,000. First Hawaiian Bank bought a new stake in Skechers U.S.A. during the 2nd quarter worth approximately $673,000. Finally, Assenagon Asset Management S.A. grew its holdings in Skechers U.S.A. by 36.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 193,363 shares of the textile maker’s stock worth $13,365,000 after acquiring an additional 51,673 shares during the last quarter. 79.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SKX. Barclays boosted their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. TD Cowen reduced their target price on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Bank of America reduced their target price on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. Morgan Stanley boosted their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, StockNews.com raised shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Stock Up 1.1 %

Shares of NYSE SKX opened at $61.69 on Monday. The firm has a market cap of $9.31 billion, a PE ratio of 15.19, a P/E/G ratio of 0.85 and a beta of 1.23. Skechers U.S.A., Inc. has a 12-month low of $54.95 and a 12-month high of $75.09. The company’s fifty day simple moving average is $63.61 and its 200 day simple moving average is $66.24. 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 issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. Skechers U.S.A.’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.93 earnings per share. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

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.