Crossmark Global Holdings Inc. Sells 230 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Crossmark Global Holdings Inc. lessened its position in Skechers U.S.A., Inc. (NYSE:SKX) by 2.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 7,802 shares of the textile maker’s stock after selling 230 shares during the period. Crossmark Global Holdings Inc.’s holdings in Skechers U.S.A. were worth $522,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Entropy Technologies LP bought a new stake in shares of Skechers U.S.A. during the 1st quarter worth approximately $244,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Skechers U.S.A. by 5.0% during the first quarter. State Board of Administration of Florida Retirement System now owns 142,091 shares of the textile maker’s stock valued at $8,704,000 after purchasing an additional 6,725 shares during the period. Intech Investment Management LLC grew its holdings in shares of Skechers U.S.A. by 111.6% in the first quarter. Intech Investment Management LLC now owns 11,892 shares of the textile maker’s stock worth $729,000 after purchasing an additional 6,273 shares during the last quarter. Vanguard Group Inc. increased its stake in Skechers U.S.A. by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock worth $779,491,000 after buying an additional 97,666 shares during the period. Finally, Ontario Teachers Pension Plan Board lifted its holdings in Skechers U.S.A. by 77.5% during the 1st quarter. Ontario Teachers Pension Plan Board now owns 52,300 shares of the textile maker’s stock valued at $3,204,000 after buying an additional 22,836 shares in the last quarter. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

SKX has been the topic of a number of research reports. Evercore ISI raised their target price on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. TD Cowen decreased their target price on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Barclays increased their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Wedbush lifted their price objective on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Morgan Stanley increased their target price on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Twelve research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Skechers U.S.A. currently has an average rating of “Buy” and an average target price of $78.09.

Skechers U.S.A. Stock Down 1.4 %

Shares of Skechers U.S.A. stock opened at $60.70 on Friday. Skechers U.S.A., Inc. has a 52-week low of $51.33 and a 52-week high of $75.09. The firm’s 50 day moving average price is $64.13 and its 200-day moving average price is $66.43. 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 company has a market cap of $9.16 billion, a P/E ratio of 14.95, a PEG ratio of 0.85 and a beta of 1.23.

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

Skechers U.S.A. announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 25th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

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.