Outfitter Financial LLC Makes New $434,000 Investment in Skechers U.S.A., Inc. (NYSE:SKX)

Outfitter Financial LLC acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 7,645 shares of the textile maker’s stock, valued at approximately $434,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC raised its position in shares of Skechers U.S.A. by 85.2% in the 4th quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock worth $28,000 after acquiring an additional 190 shares in the last quarter. TD Private Client Wealth LLC increased its position in Skechers U.S.A. by 534.3% during the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock valued at $29,000 after buying an additional 358 shares in the last quarter. Investment Management Corp VA ADV bought a new position in Skechers U.S.A. during the 4th quarter valued at approximately $32,000. Parallel Advisors LLC increased its position in Skechers U.S.A. by 183.0% during the 1st quarter. Parallel Advisors LLC now owns 617 shares of the textile maker’s stock valued at $35,000 after buying an additional 399 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Skechers U.S.A. during the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Skechers U.S.A. Price Performance

Shares of SKX stock traded up $0.01 during trading hours on Friday, hitting $63.06. The stock had a trading volume of 466,296 shares, compared to its average volume of 3,571,807. Skechers U.S.A., Inc. has a one year low of $44.50 and a one year high of $78.85. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.13 and a quick ratio of 1.28. The stock’s 50-day moving average price is $62.53 and its two-hundred day moving average price is $61.31. The stock has a market capitalization of $9.43 billion, a price-to-earnings ratio of 15.16 and a beta of 1.12.

Skechers U.S.A. (NYSE:SKX) last issued its 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 13.34% and a net margin of 6.96%. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same period in the previous year, the firm posted $1.33 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. Equities analysts forecast that Skechers U.S.A., Inc. will post 4.47 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Raymond James Financial lowered Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research report on Monday, May 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $63.00 price objective (down previously from $73.00) on shares of Skechers U.S.A. in a research report on Wednesday, May 7th. Evercore ISI cut 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 note on Thursday, April 17th. Barclays restated 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. Finally, Wall Street Zen assumed coverage on Skechers U.S.A. in a research note on Thursday, May 22nd. They issued a “sell” rating on the stock. One equities 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 has an average rating of “Hold” and a consensus target price of $67.69.

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.