Natixis Advisors LLC Reduces Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Natixis Advisors LLC lessened its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 200,288 shares of the textile maker’s stock after selling 7,063 shares during the quarter. Natixis Advisors LLC’s holdings in Skechers U.S.A. were worth $13,403,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Skechers U.S.A. by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 12,724,299 shares of the textile maker’s stock valued at $779,491,000 after acquiring an additional 97,666 shares during the period. Bessemer Group Inc. increased its position in shares of Skechers U.S.A. by 66.7% during the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after acquiring an additional 164 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Skechers U.S.A. during the first quarter valued at approximately $206,000. LRI Investments LLC purchased a new stake in shares of Skechers U.S.A. in the first quarter valued at approximately $102,000. Finally, Magnetar Financial LLC bought a new position in Skechers U.S.A. in the first quarter worth approximately $3,203,000. 79.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SKX has been the topic of several recent research reports. Stifel Nicolaus increased their target price on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 26th. TD Cowen cut their price objective 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. Wedbush increased their target price on Skechers U.S.A. from $76.00 to $79.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Barclays lifted their price target on Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on 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. Twelve investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $78.09.

Skechers U.S.A. Stock Down 1.3 %

SKX stock opened at $59.82 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.01. Skechers U.S.A., Inc. has a 52 week low of $54.10 and a 52 week high of $75.09. The stock has a market capitalization of $9.03 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.84 and a beta of 1.23. The firm has a 50 day moving average of $63.95 and a 200 day moving average of $66.36.

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, beating 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 firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.25 earnings per share for the current year.

Skechers U.S.A. declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 25th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the textile maker to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.