Loomis Sayles & Co. L P Acquires 49,734 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Loomis Sayles & Co. L P raised its holdings in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 752,067 shares of the textile maker’s stock after purchasing an additional 49,734 shares during the quarter. Loomis Sayles & Co. L P owned 0.50% of Skechers U.S.A. worth $50,328,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Seven Eight Capital LP lifted its holdings in Skechers U.S.A. by 126.1% during the 2nd quarter. Seven Eight Capital LP now owns 29,419 shares of the textile maker’s stock valued at $2,033,000 after buying an additional 16,408 shares in the last quarter. Cetera Advisors LLC purchased a new stake in Skechers U.S.A. in the first quarter worth about $600,000. Vista Investment Partners LLC bought a new position in Skechers U.S.A. during the 2nd quarter worth about $925,000. First Hawaiian Bank purchased a new position in Skechers U.S.A. during the second quarter valued at approximately $673,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Skechers U.S.A. by 36.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 193,363 shares of the textile maker’s stock valued at $13,365,000 after acquiring an additional 51,673 shares during the period. 79.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Needham & Company LLC initiated coverage on Skechers U.S.A. in a research report on Friday. They set a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America reduced their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, October 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, Morgan Stanley lifted 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 report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Skechers U.S.A. presently has an average rating of “Moderate Buy” and a consensus price target of $78.09.

Skechers U.S.A. Stock Performance

Shares of NYSE SKX opened at $63.48 on Tuesday. The stock has a market cap of $9.58 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 0.86 and a beta of 1.23. Skechers U.S.A., Inc. has a 12 month low of $55.51 and a 12 month high of $75.09. The company has a 50 day simple moving average of $63.52 and a two-hundred day simple moving average of $66.20. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01.

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

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.