Glenmede Trust Co. NA Increases Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Glenmede Trust Co. NA boosted its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.0% during the third quarter, Holdings Channel.com reports. The firm owned 144,971 shares of the textile maker’s stock after buying an additional 4,265 shares during the quarter. Glenmede Trust Co. NA’s holdings in Skechers U.S.A. were worth $9,701,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CIBC Asset Management Inc raised its position in Skechers U.S.A. by 4.7% in the second quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock valued at $264,000 after purchasing an additional 173 shares during the period. Lindenwold Advisors INC grew its stake in shares of Skechers U.S.A. by 3.0% in the third quarter. Lindenwold Advisors INC now owns 6,663 shares of the textile maker’s stock valued at $446,000 after buying an additional 195 shares in the last quarter. X Square Capital LLC grew its stake in shares of Skechers U.S.A. by 0.5% in the second quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock valued at $2,827,000 after buying an additional 215 shares in the last quarter. Covestor Ltd raised its holdings 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 buying an additional 265 shares during the period. Finally, QRG Capital Management Inc. lifted its stake in Skechers U.S.A. by 2.6% during the 3rd quarter. QRG Capital Management Inc. now owns 11,157 shares of the textile maker’s stock worth $747,000 after acquiring an additional 284 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on SKX shares. Barclays boosted their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Morgan Stanley raised their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research report 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 for the company. Finally, Bank of America reduced their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $78.09.

Skechers U.S.A. Stock Up 0.3 %

Skechers U.S.A. stock opened at $63.89 on Friday. The stock has a market cap of $9.65 billion, a PE ratio of 15.74, a P/E/G ratio of 0.88 and a beta of 1.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. The stock’s fifty day moving average is $63.39 and its two-hundred day moving average is $66.11. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. The company’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

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.