Intact Investment Management Inc. Has $1.44 Million Stock Position in Skechers U.S.A., Inc. (NYSE:SKX)

Intact Investment Management Inc. grew its position in Skechers U.S.A., Inc. (NYSE:SKX) by 23.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 25,300 shares of the textile maker’s stock after purchasing an additional 4,800 shares during the period. Intact Investment Management Inc.’s holdings in Skechers U.S.A. were worth $1,437,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Skechers U.S.A. by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 12,544,233 shares of the textile maker’s stock valued at $843,474,000 after buying an additional 82,143 shares during the period. Anomaly Capital Management LP increased its stake in shares of Skechers U.S.A. by 51.2% in the 4th quarter. Anomaly Capital Management LP now owns 2,989,015 shares of the textile maker’s stock valued at $200,981,000 after buying an additional 1,011,815 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Skechers U.S.A. by 70.4% in the 4th quarter. Bank of New York Mellon Corp now owns 2,308,283 shares of the textile maker’s stock valued at $155,209,000 after buying an additional 953,528 shares during the period. Geode Capital Management LLC grew its stake in shares of Skechers U.S.A. by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 2,294,976 shares of the textile maker’s stock worth $154,361,000 after purchasing an additional 78,071 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Skechers U.S.A. by 19.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,020 shares of the textile maker’s stock worth $148,743,000 after purchasing an additional 357,681 shares during the period. 79.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SKX shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $63.00 price objective (down from $73.00) on shares of Skechers U.S.A. in a research note on Wednesday, May 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Skechers U.S.A. in a research note on Tuesday, April 22nd. Stifel Nicolaus decreased their price objective on Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. TD Cowen cut Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a research note on Wednesday, May 28th. Finally, Monness Crespi & Hardt cut Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.69.

Skechers U.S.A. Stock Performance

SKX stock opened at $62.53 on Friday. The business’s 50-day moving average price is $57.92 and its two-hundred day moving average price is $62.01. The company has a current ratio of 2.13, a quick ratio of 1.28 and a debt-to-equity ratio of 0.02. The firm has a market cap of $9.35 billion, a PE ratio of 15.03 and a beta of 1.13. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85.

Skechers U.S.A. (NYSE:SKX) last posted its earnings results on Thursday, April 24th. The textile maker reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. Skechers U.S.A. had a return on equity of 13.34% and a net margin of 6.96%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.33 earnings per share. As a group, research analysts forecast that Skechers U.S.A., Inc. will post 4.47 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.