Xponance Inc. cut its position in Skechers U.S.A., Inc. (NYSE:SKX) by 3.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,753 shares of the textile maker’s stock after selling 659 shares during the quarter. Xponance Inc.’s holdings in Skechers U.S.A. were worth $706,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Deutsche Bank AG raised its holdings in Skechers U.S.A. by 29.0% in the third quarter. Deutsche Bank AG now owns 76,399 shares of the textile maker’s stock worth $3,218,000 after purchasing an additional 17,195 shares during the period. Rathbone Brothers plc raised its holdings in shares of Skechers U.S.A. by 80.8% during the third quarter. Rathbone Brothers plc now owns 131,146 shares of the textile maker’s stock worth $5,524,000 after acquiring an additional 58,623 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Skechers U.S.A. by 3.5% during the third quarter. Treasurer of the State of North Carolina now owns 47,443 shares of the textile maker’s stock worth $1,998,000 after acquiring an additional 1,599 shares during the period. Martin & Co. Inc. TN raised its holdings in shares of Skechers U.S.A. by 3.0% during the third quarter. Martin & Co. Inc. TN now owns 54,857 shares of the textile maker’s stock worth $2,311,000 after acquiring an additional 1,607 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in shares of Skechers U.S.A. by 14.1% during the third quarter. Benjamin Edwards Inc. now owns 3,689 shares of the textile maker’s stock worth $155,000 after acquiring an additional 455 shares during the period. Institutional investors own 78.88% of the company’s stock.
SKX has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Skechers U.S.A. from $64.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, October 18th. Argus lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $45.00 price objective on the stock. in a report on Tuesday, November 2nd. Rowe upgraded shares of Skechers U.S.A. to a “buy” rating in a research note on Tuesday, October 19th. Zacks Investment Research upgraded shares of Skechers U.S.A. from a “sell” rating to a “hold” rating and set a $46.00 price target on the stock in a research note on Monday, January 3rd. Finally, Williams Capital upgraded shares of Skechers U.S.A. from a “hold” rating to a “buy” rating in a research note on Tuesday, October 19th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. has a consensus rating of “Buy” and an average target price of $54.89.
Shares of SKX stock opened at $46.04 on Friday. The company has a market capitalization of $7.17 billion, a price-to-earnings ratio of 18.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.55 and a current ratio of 2.47. The company has a 50-day simple moving average of $45.39 and a 200 day simple moving average of $47.21. Skechers U.S.A., Inc. has a 52 week low of $33.80 and a 52 week high of $55.87.
Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 28th. The textile maker reported $0.66 EPS for the quarter, missing the consensus estimate of $0.71 by ($0.05). The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.62 billion. Skechers U.S.A. had a return on equity of 12.87% and a net margin of 6.58%. The business’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.53 EPS. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 2.48 EPS for the current year.
About Skechers U.S.A.
Skechers U.SA, Inc engages in designing, development, and marketing of lifestyle footwear for men, women, and children of all ages. It operates through the following segments: Domestic Wholesale, International Wholesale, and Direct-to-Consumer. The Domestic Wholesale segment distributes footwear through the local wholesale distribution channels including department stores, specialty stores, athletic specialty shoe stores and independent retailers, as well as catalog and internet retailers.
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