Fort Washington Investment Advisors Inc. OH Grows Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Fort Washington Investment Advisors Inc. OH lifted its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 8.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,046 shares of the textile maker’s stock after purchasing an additional 321 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Skechers U.S.A. were worth $230,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Thompson Investment Management Inc. boosted its holdings in Skechers U.S.A. by 0.8% in the first quarter. Thompson Investment Management Inc. now owns 66,503 shares of the textile maker’s stock valued at $3,776,000 after purchasing an additional 522 shares during the period. Handelsbanken Fonder AB lifted its holdings in Skechers U.S.A. by 17.1% during the 1st quarter. Handelsbanken Fonder AB now owns 41,790 shares of the textile maker’s stock worth $2,373,000 after buying an additional 6,100 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Skechers U.S.A. by 93.0% during the 1st quarter. SG Americas Securities LLC now owns 14,266 shares of the textile maker’s stock worth $810,000 after buying an additional 6,876 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Skechers U.S.A. by 60.8% during the 1st quarter. GAMMA Investing LLC now owns 3,299 shares of the textile maker’s stock worth $187,000 after buying an additional 1,248 shares during the last quarter. Finally, Barden Capital Management Inc. purchased a new stake in Skechers U.S.A. during the 1st quarter worth about $899,000. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SKX shares. Evercore ISI decreased their price target on Skechers U.S.A. from $78.00 to $60.00 and set an “outperform” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company lifted their price target on Skechers U.S.A. from $57.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Barclays reaffirmed an “equal weight” rating and set a $63.00 price target (up from $53.00) on shares of Skechers U.S.A. in a report on Tuesday, May 6th. TD Cowen downgraded Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price target for the company. in a report on Wednesday, May 28th. Finally, Stifel Nicolaus decreased their price target on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $67.69.

Skechers U.S.A. Stock Down 0.3%

Skechers U.S.A. stock opened at $62.50 on Friday. Skechers U.S.A., Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $78.85. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.12 and a current ratio of 1.97. The company has a market capitalization of $9.35 billion, a P/E ratio of 15.06, a PEG ratio of 1.11 and a beta of 1.13. The stock has a 50-day simple moving average of $56.57 and a 200-day simple moving average of $62.16.

Skechers U.S.A. (NYSE:SKX) last issued its quarterly earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. Equities research analysts expect that Skechers U.S.A., Inc. will post 4.47 earnings per share for the current year.

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.