Cynosure Group LLC Buys 568 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Cynosure Group LLC raised its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,744 shares of the textile maker’s stock after purchasing an additional 568 shares during the period. Cynosure Group LLC’s holdings in Skechers U.S.A. were worth $384,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. grew its stake in Skechers U.S.A. by 5,780.6% in the 3rd quarter. Pacer Advisors Inc. now owns 2,639,390 shares of the textile maker’s stock valued at $176,628,000 after buying an additional 2,594,507 shares during the last quarter. Commerce Bank grew its position in shares of Skechers U.S.A. by 949.5% in the third quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after purchasing an additional 423,204 shares during the last quarter. Coronation Fund Managers Ltd. increased its stake in shares of Skechers U.S.A. by 378.6% in the third quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock worth $33,382,000 after purchasing an additional 394,618 shares during the period. Acadian Asset Management LLC bought a new position in shares of Skechers U.S.A. in the second quarter worth about $22,425,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Skechers U.S.A. by 646.3% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 323,321 shares of the textile maker’s stock worth $22,348,000 after purchasing an additional 280,000 shares during the last quarter. 79.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on the company. TD Cowen dropped their price target on Skechers U.S.A. from $78.00 to $76.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Barclays raised their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a research note on Friday, November 22nd. They set a “hold” rating for the company. Bank of America decreased their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, October 25th. Finally, Morgan Stanley upped their price objective on shares of Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research 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 MarketBeat.com, Skechers U.S.A. currently has an average rating of “Moderate Buy” and a consensus price target of $78.09.

Skechers U.S.A. Stock Up 1.2 %

Shares of SKX opened at $63.71 on Friday. Skechers U.S.A., Inc. has a 12 month low of $55.67 and a 12 month high of $75.09. The stock has a market cap of $9.62 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 0.88 and a beta of 1.23. The company has a 50-day moving average price of $63.38 and a two-hundred day moving average price of $66.14. 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. (NYSE:SKX) last announced 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. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. Skechers U.S.A.’s quarterly revenue was up 16.0% on a year-over-year basis. Equities analysts predict that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal 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.