Kestra Investment Management LLC Invests $931,000 in Skechers U.S.A., Inc. (NYSE:SKX)

Kestra Investment Management LLC acquired a new stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 13,909 shares of the textile maker’s stock, valued at approximately $931,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Virtu Financial LLC acquired a new stake in shares of Skechers U.S.A. during the first quarter valued at about $203,000. Cetera Advisors LLC bought a new stake in Skechers U.S.A. during the 1st quarter worth approximately $600,000. GAMMA Investing LLC grew its holdings in Skechers U.S.A. by 107.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,168 shares of the textile maker’s stock worth $81,000 after acquiring an additional 605 shares during the last quarter. First Hawaiian Bank acquired a new position in Skechers U.S.A. in the 2nd quarter valued at approximately $673,000. Finally, Versant Capital Management Inc raised 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 valued at $44,000 after acquiring an additional 618 shares during the last quarter. Institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Stock Up 0.2 %

Shares of NYSE SKX opened at $63.82 on Monday. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $75.09. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. The firm has a market cap of $9.64 billion, a PE ratio of 15.72, a P/E/G ratio of 0.89 and a beta of 1.23. The company’s fifty day simple moving average is $63.39 and its 200 day simple moving average is $66.06.

Skechers U.S.A. (NYSE:SKX) last issued its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, beating the consensus estimate of $1.15 by $0.11. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The company had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business posted $0.93 EPS. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on SKX shares. Needham & Company LLC began coverage on Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Barclays lifted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com downgraded shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Morgan Stanley boosted their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.09.

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 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.