Intech Investment Management LLC Trims Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Intech Investment Management LLC reduced its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 53.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 18,366 shares of the textile maker’s stock after selling 20,740 shares during the quarter. Intech Investment Management LLC’s holdings in Skechers U.S.A. were worth $1,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SKX. Bessemer Group Inc. grew its position in Skechers U.S.A. by 66.7% in the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Skechers U.S.A. by 2,809.1% during the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock worth $44,000 after acquiring an additional 618 shares during the period. Venturi Wealth Management LLC raised its holdings in Skechers U.S.A. by 52.9% during the third quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares during the period. Institutional investors and hedge funds own 79.96% of the company’s stock.

Analyst Ratings Changes

SKX has been the subject of a number of analyst reports. Morgan Stanley increased their target price on Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Bank of America reduced their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. TD Cowen decreased 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 research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. Finally, StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Trading Down 0.8 %

Skechers U.S.A. stock opened at $62.96 on Wednesday. The stock has a 50-day moving average price of $63.42 and a 200 day moving average price of $66.17. Skechers U.S.A., Inc. has a 52 week low of $55.51 and a 52 week high of $75.09. The stock has a market cap of $9.51 billion, a PE ratio of 15.51, a P/E/G ratio of 0.86 and a beta of 1.23. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. Equities research analysts predict 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.