iA Global Asset Management Inc. Purchases New Position in Skechers U.S.A., Inc. (NYSE:SKX)

iA Global Asset Management Inc. acquired a new position in Skechers U.S.A., Inc. (NYSE:SKX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 68,560 shares of the textile maker’s stock, valued at approximately $4,588,000.

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its holdings in shares of Skechers U.S.A. by 423.3% during the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Skechers U.S.A. by 52.9% in the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares during the period. Brooklyn Investment Group bought a new stake in shares of Skechers U.S.A. during the 3rd quarter valued at about $67,000. 1620 Investment Advisors Inc. purchased a new position in shares of Skechers U.S.A. during the second quarter valued at about $69,000. Finally, Blue Trust Inc. raised its stake in Skechers U.S.A. by 778.1% in the third quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock worth $69,000 after buying an additional 887 shares in the last quarter. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Up 1.1 %

Shares of Skechers U.S.A. stock opened at $71.05 on Friday. The company has a 50-day simple moving average of $63.70 and a two-hundred day simple moving average of $66.11. The stock has a market capitalization of $10.73 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. Skechers U.S.A., Inc. has a 52-week low of $55.67 and a 52-week high of $75.09. 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. (NYSE:SKX) last announced its quarterly earnings data on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping 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 company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, analysts anticipate that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Needham & Company LLC started coverage on Skechers U.S.A. in a report on Friday, November 22nd. They set a “hold” rating on the stock. Bank of America decreased their price objective on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. TD Cowen dropped their target price on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Morgan Stanley increased their price target on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Finally, StockNews.com cut shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $78.09.

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.