Cynosure Group LLC Acquires 568 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Cynosure Group LLC raised its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 11.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 5,744 shares of the textile maker’s stock after purchasing an additional 568 shares during the quarter. Cynosure Group LLC’s holdings in Skechers U.S.A. were worth $384,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Seven Eight Capital LP raised its holdings in shares of Skechers U.S.A. by 126.1% in the second quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock valued at $2,033,000 after buying an additional 16,408 shares during the last quarter. Cetera Advisors LLC bought a new position in shares of Skechers U.S.A. in the first quarter worth about $600,000. Vista Investment Partners LLC acquired a new position in shares of Skechers U.S.A. during the second quarter worth approximately $925,000. First Hawaiian Bank bought a new stake in shares of Skechers U.S.A. during the second quarter valued at approximately $673,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Skechers U.S.A. by 36.5% during the second quarter. Assenagon Asset Management S.A. now owns 193,363 shares of the textile maker’s stock valued at $13,365,000 after purchasing an additional 51,673 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of SKX stock opened at $63.71 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $75.09. The firm has a fifty day moving average of $63.38 and a 200-day moving average of $66.14. The firm has a market capitalization of $9.62 billion, a price-to-earnings ratio of 15.69, a price-to-earnings-growth ratio of 0.88 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping 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 firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, equities research analysts forecast that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America dropped their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday, October 25th. Needham & Company LLC assumed coverage on Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Barclays boosted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of 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. 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 note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus 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.