Credit Suisse AG boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX – Free Report) by 58.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 281,288 shares of the textile maker’s stock after purchasing an additional 104,124 shares during the period. Credit Suisse AG owned about 0.18% of Skechers U.S.A. worth $13,367,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in Skechers U.S.A. by 0.8% during the 1st quarter. Principal Financial Group Inc. now owns 531,344 shares of the textile maker’s stock valued at $25,249,000 after purchasing an additional 4,386 shares during the period. Spire Wealth Management grew its holdings in shares of Skechers U.S.A. by 133.6% during the 1st quarter. Spire Wealth Management now owns 785 shares of the textile maker’s stock worth $37,000 after acquiring an additional 449 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Skechers U.S.A. by 156.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 8,784 shares of the textile maker’s stock worth $417,000 after acquiring an additional 5,356 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Skechers U.S.A. by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 2,004,379 shares of the textile maker’s stock worth $95,248,000 after acquiring an additional 131,030 shares during the period. Finally, Russell Investments Group Ltd. grew its holdings in shares of Skechers U.S.A. by 35.2% during the 1st quarter. Russell Investments Group Ltd. now owns 43,478 shares of the textile maker’s stock worth $2,066,000 after acquiring an additional 11,312 shares during the period. Hedge funds and other institutional investors own 80.21% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have weighed in on the company. Raymond James upped their target price on Skechers U.S.A. from $58.00 to $59.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. StockNews.com assumed coverage on Skechers U.S.A. in a report on Thursday, August 17th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upped their target price on Skechers U.S.A. from $57.00 to $62.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Morgan Stanley upped their target price on Skechers U.S.A. from $46.00 to $48.00 in a report on Friday, April 28th. Finally, TD Cowen upped their target price on Skechers U.S.A. from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and an average price target of $58.83.
Skechers U.S.A. Stock Performance
Shares of SKX opened at $48.38 on Friday. The company has a quick ratio of 1.48, a current ratio of 2.48 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $52.38 and its 200-day moving average price is $49.79. Skechers U.S.A., Inc. has a 52 week low of $31.28 and a 52 week high of $56.53. The stock has a market cap of $7.49 billion, a P/E ratio of 15.97, a P/E/G ratio of 0.51 and a beta of 1.32.
Skechers U.S.A. (NYSE:SKX – Get Free Report) last released its quarterly earnings data on Thursday, July 27th. The textile maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.46. The business had revenue of $2.01 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Skechers U.S.A. had a return on equity of 11.97% and a net margin of 6.11%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 EPS. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 3.38 earnings per share for the current fiscal year.
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 two segments, Wholesale and Direct-to-Consumer. It offers casual, casual athletic, sport athletic, trail, sandals, boots, and retro fashion footwear for men and women under the Skechers USA, Skechers Sport, Skechers Active, Modern Comfort, Skechers Street, Foamies, Mark Nason, and BOBS brands; sneakers, casuals, boots, and sandals for boys and girls under the S-Lights, Skech-Air, Foamies, Twinkle Toes, Skechers Stretch Fit, and Skechers Street brands; and technical footwear under the Skechers GOrun, Skechers GOwalk, Skechers GOtrain, Skechers GOtrail, and Skechers GO Golf brands, as well as Skechers Viper Court for pickleball.
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