Skechers U.S.A., Inc. (NYSE:SKX) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its position in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,326 shares of the textile maker’s stock after selling 219 shares during the period. D.A. Davidson & CO.’s holdings in Skechers U.S.A. were worth $423,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in Skechers U.S.A. during the 1st quarter worth approximately $203,000. Cetera Advisors LLC acquired a new stake in shares of Skechers U.S.A. in the first quarter worth $600,000. GAMMA Investing LLC raised its stake in shares of Skechers U.S.A. by 107.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,168 shares of the textile maker’s stock valued at $81,000 after acquiring an additional 605 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Skechers U.S.A. by 26.2% during the 2nd quarter. Park Avenue Securities LLC now owns 15,476 shares of the textile maker’s stock valued at $1,070,000 after acquiring an additional 3,214 shares in the last quarter. Finally, CWM LLC boosted its position in Skechers U.S.A. by 8.4% during the 2nd quarter. CWM LLC now owns 10,186 shares of the textile maker’s stock worth $704,000 after purchasing an additional 788 shares during the period. 79.96% of the stock is currently owned by hedge funds and other institutional investors.

Skechers U.S.A. Stock Performance

SKX stock opened at $69.17 on Wednesday. The stock’s 50 day simple moving average is $63.53 and its 200 day simple moving average is $66.05. Skechers U.S.A., Inc. has a 12-month low of $55.67 and a 12-month high of $75.09. The firm has a market cap of $10.44 billion, a P/E ratio of 17.04, a P/E/G ratio of 0.91 and a beta of 1.22. 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 issued its earnings results 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 for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the company earned $0.93 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. As a group, equities research analysts predict that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on SKX. Barclays raised their price objective on 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. Needham & Company LLC assumed coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They set a “hold” rating on the stock. TD Cowen decreased their price objective on shares of Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating for the company in a research report on Monday, October 14th. StockNews.com lowered Skechers U.S.A. from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Finally, Morgan Stanley increased their price target on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $78.09.

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.