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

Lindenwold Advisors INC grew its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,663 shares of the textile maker’s stock after purchasing an additional 195 shares during the quarter. Lindenwold Advisors INC’s holdings in Skechers U.S.A. were worth $446,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in SKX. Bessemer Group Inc. raised its holdings in Skechers U.S.A. by 66.7% during the 1st 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 last quarter. CIBC Asset Management Inc raised its stake in shares of Skechers U.S.A. by 4.7% during the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after buying an additional 173 shares during the last quarter. X Square Capital LLC lifted its holdings in 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 during the period. Covestor Ltd boosted its stake in Skechers U.S.A. by 18.8% in the third quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after acquiring an additional 265 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in Skechers U.S.A. by 2.6% in the third quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock valued at $747,000 after acquiring an additional 284 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on SKX shares. Bank of America cut their price target on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. TD Cowen cut their target price on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. 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 research report on Friday, July 26th. Barclays increased their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, StockNews.com upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Twelve analysts have rated the stock with a buy rating, Based on data from MarketBeat, Skechers U.S.A. presently has a consensus rating of “Buy” and a consensus price target of $78.09.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $60.77 on Tuesday. The firm 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 twelve month low of $52.49 and a twelve month high of $75.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. The firm’s 50 day moving average price is $64.13 and its two-hundred day moving average price is $66.44.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $0.93 earnings per share. On average, analysts forecast that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Skechers U.S.A. declared that its board has initiated a share buyback program on Thursday, July 25th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the textile maker to repurchase up to 10.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

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.