Skechers U.S.A., Inc. (NYSE:SKX) Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 42.1% in the 3rd quarter, Holdings Channel reports. The firm owned 86,920 shares of the textile maker’s stock after buying an additional 25,741 shares during the period. Quantinno Capital Management LP’s holdings in Skechers U.S.A. were worth $5,817,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SKX. CIBC Asset Management Inc lifted its position in shares of Skechers U.S.A. by 4.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after acquiring an additional 173 shares in the last quarter. Lindenwold Advisors INC lifted its position in shares of Skechers U.S.A. by 3.0% in the 3rd quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after acquiring an additional 195 shares in the last quarter. X Square Capital LLC lifted its position in shares of Skechers U.S.A. by 0.5% in the 2nd quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after acquiring an additional 215 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of Skechers U.S.A. by 2.8% in the 3rd quarter. Edgestream Partners L.P. now owns 8,762 shares of the textile maker’s stock valued at $586,000 after acquiring an additional 236 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Skechers U.S.A. by 18.8% in the 3rd quarter. Covestor Ltd now owns 1,678 shares of the textile maker’s stock valued at $112,000 after acquiring an additional 265 shares in the last quarter. 79.96% of the stock is owned by institutional investors and hedge funds.

Skechers U.S.A. Stock Performance

Shares of SKX opened at $71.08 on Friday. The company’s fifty day moving average is $63.70 and its 200-day moving average is $66.13. 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 market cap of $10.73 billion, a price-to-earnings ratio of 17.51, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. 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. (NYSE:SKX) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the business posted $0.93 EPS. Skechers U.S.A.’s revenue was up 16.0% compared to the same quarter last year. Equities analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Barclays upped their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating on the stock. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research note on Monday, November 25th. TD Cowen dropped their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Morgan Stanley upped their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $78.09.

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.