Skechers U.S.A., Inc. (NYSE:SKX) Shares Purchased by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its stake in Skechers U.S.A., Inc. (NYSE:SKX) by 23.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,545 shares of the textile maker’s stock after purchasing an additional 290 shares during the period. First Horizon Advisors Inc.’s holdings in Skechers U.S.A. were worth $103,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of SKX. Commerce Bank increased its position in shares of Skechers U.S.A. by 949.5% in the 3rd quarter. Commerce Bank now owns 467,774 shares of the textile maker’s stock valued at $31,303,000 after acquiring an additional 423,204 shares during the period. Coronation Fund Managers Ltd. grew its stake in Skechers U.S.A. by 378.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 498,837 shares of the textile maker’s stock valued at $33,382,000 after purchasing an additional 394,618 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Skechers U.S.A. in the second quarter valued at about $22,425,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of Skechers U.S.A. by 646.3% in the second 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. Finally, Adams Diversified Equity Fund Inc. purchased a new position in shares of Skechers U.S.A. in the third quarter worth about $16,790,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on SKX. Deutsche Bank Aktiengesellschaft upped their target price on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Bank of America cut their price objective on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating on the stock in a research note on Friday, October 25th. Needham & Company LLC started coverage on shares of Skechers U.S.A. in a report on Friday. They set a “hold” rating for the company. TD Cowen lowered their price target 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. Finally, Morgan Stanley lifted their price objective on Skechers U.S.A. from $81.00 to $84.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.09.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $61.69 on Friday. 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., Inc. has a 12-month low of $54.95 and a 12-month high of $75.09. The business’s 50 day moving average is $63.61 and its two-hundred day moving average is $66.24. The company has a market capitalization of $9.31 billion, a P/E ratio of 15.19, a P/E/G ratio of 0.85 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the company posted $0.93 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. Analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal 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.