National Bank of Canada FI Buys 67,812 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

National Bank of Canada FI increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 2,340.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,710 shares of the textile maker’s stock after buying an additional 67,812 shares during the quarter. National Bank of Canada FI’s holdings in Skechers U.S.A. were worth $4,732,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SKX. Pacer Advisors Inc. raised its holdings in shares of Skechers U.S.A. by 5,780.6% in the third quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after purchasing an additional 2,594,507 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Skechers U.S.A. by 3.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,885,723 shares of the textile maker’s stock worth $130,350,000 after purchasing an additional 55,095 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Skechers U.S.A. by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,316,882 shares of the textile maker’s stock worth $88,126,000 after buying an additional 17,429 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Skechers U.S.A. by 39.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,025,556 shares of the textile maker’s stock worth $68,630,000 after buying an additional 287,939 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its holdings in shares of Skechers U.S.A. by 7.1% in the third quarter. Loomis Sayles & Co. L P now owns 752,067 shares of the textile maker’s stock valued at $50,328,000 after acquiring an additional 49,734 shares in the last quarter. 79.96% of the stock is owned by hedge funds and other institutional investors.

Skechers U.S.A. Price Performance

Shares of NYSE SKX opened at $70.09 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.25 and a current ratio of 1.96. Skechers U.S.A., Inc. has a fifty-two week low of $55.67 and a fifty-two week high of $75.09. The stock has a market cap of $10.58 billion, a PE ratio of 17.25, a price-to-earnings-growth ratio of 0.99 and a beta of 1.22. The stock has a fifty day moving average of $63.97 and a 200-day moving average of $66.18.

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, beating analysts’ consensus estimates 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 business had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SKX shares. TD Cowen cut their price objective on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Bank of America cut their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, October 25th. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Barclays increased their target price on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.00.

Skechers U.S.A. Company 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.