Handelsbanken Fonder AB Buys 6,100 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Handelsbanken Fonder AB raised its holdings in Skechers U.S.A., Inc. (NYSE:SKX) by 17.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 41,790 shares of the textile maker’s stock after acquiring an additional 6,100 shares during the quarter. Handelsbanken Fonder AB’s holdings in Skechers U.S.A. were worth $2,373,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its stake in Skechers U.S.A. by 93.0% in the first quarter. SG Americas Securities LLC now owns 14,266 shares of the textile maker’s stock valued at $810,000 after buying an additional 6,876 shares during the period. GAMMA Investing LLC lifted its stake in Skechers U.S.A. by 60.8% in the first quarter. GAMMA Investing LLC now owns 3,299 shares of the textile maker’s stock valued at $187,000 after buying an additional 1,248 shares during the period. Barden Capital Management Inc. acquired a new position in Skechers U.S.A. in the first quarter valued at approximately $899,000. UMB Bank n.a. lifted its stake in Skechers U.S.A. by 120.3% in the first quarter. UMB Bank n.a. now owns 1,518 shares of the textile maker’s stock valued at $86,000 after buying an additional 829 shares during the period. Finally, Sendero Wealth Management LLC lifted its stake in Skechers U.S.A. by 35.7% in the first quarter. Sendero Wealth Management LLC now owns 16,483 shares of the textile maker’s stock valued at $936,000 after buying an additional 4,332 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SKX has been the topic of several recent analyst reports. Barclays reissued an “equal weight” rating and issued a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a research note on Tuesday, May 6th. Wells Fargo & Company boosted their price target on Skechers U.S.A. from $57.00 to $63.00 and gave the company an “overweight” rating in a research note on Tuesday, May 6th. Stifel Nicolaus lowered their target price on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Evercore ISI lowered their target price on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating on the stock in a research report on Thursday, April 17th. Finally, Monness Crespi & Hardt lowered Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $67.69.

Skechers U.S.A. Trading Down 0.3%

Shares of Skechers U.S.A. stock opened at $62.50 on Friday. The stock has a fifty day simple moving average of $56.57 and a 200 day simple moving average of $62.16. Skechers U.S.A., Inc. has a 12-month low of $44.50 and a 12-month high of $78.85. The company has a market capitalization of $9.35 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 1.11 and a beta of 1.13. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last announced its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The business had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the company posted $1.33 earnings per share. Skechers U.S.A.’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current fiscal year.

About Skechers U.S.A.

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.