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

Hennion & Walsh Asset Management Inc. lifted its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 41.9% during the first quarter, according to its most recent Form 13F filing with the SEC. 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 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in SKX. GAMMA Investing LLC bought a new position in shares of Skechers U.S.A. in the fourth quarter worth about $36,000. Game Plan Financial Advisors LLC bought a new position in shares of Skechers U.S.A. in the first quarter worth about $43,000. Sunbelt Securities Inc. bought a new position in shares of Skechers U.S.A. in the first quarter worth about $45,000. Tradition Wealth Management LLC bought a new position in Skechers U.S.A. during the fourth quarter valued at about $56,000. Finally, Planned Solutions Inc. bought a new position in Skechers U.S.A. during the fourth quarter valued at about $70,000. 79.96% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Skechers U.S.A. Price Performance

Shares of SKX traded down $0.72 on Friday, hitting $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 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 company has a debt-to-equity ratio of 0.02, a current ratio of 2.39 and a quick ratio of 1.56. Skechers U.S.A., Inc. has a fifty-two week low of $45.58 and a fifty-two week high of $75.09. The company has a 50 day moving average price of $68.94 and a 200 day moving average price of $63.58.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore ISI lowered their price target on Skechers U.S.A. from $73.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 17th. Barclays assumed coverage on Skechers U.S.A. in a research note on Monday, April 1st. They set an “overweight” rating and a $71.00 price target on the stock. Stifel Nicolaus boosted their price target on Skechers U.S.A. from $74.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Wedbush restated an “outperform” rating and set a $76.00 price target on shares of Skechers U.S.A. in a research note on Friday, May 17th. Finally, Wells Fargo & Company initiated coverage on Skechers U.S.A. in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $72.00.

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.