Johnson Investment Counsel Inc. Takes Position in Skechers U.S.A., Inc. (NYSE:SKX)

Johnson Investment Counsel Inc. purchased a new stake in Skechers U.S.A., Inc. (NYSE:SKX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,997 shares of the textile maker’s stock, valued at approximately $207,000.

A number of other large investors have also made changes to their positions in SKX. Bessemer Group Inc. boosted its stake in Skechers U.S.A. by 66.7% in the 1st quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock worth $25,000 after buying an additional 164 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Skechers U.S.A. by 4.7% in the 2nd quarter. CIBC Asset Management Inc now owns 3,820 shares of the textile maker’s stock worth $264,000 after buying an additional 173 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Skechers U.S.A. by 2.0% in the 1st quarter. QRG Capital Management Inc. now owns 10,047 shares of the textile maker’s stock worth $615,000 after buying an additional 194 shares during the last quarter. X Square Capital LLC boosted its stake in Skechers U.S.A. by 0.5% in the 2nd quarter. X Square Capital LLC now owns 40,903 shares of the textile maker’s stock worth $2,827,000 after buying an additional 215 shares during the last quarter. Finally, 1492 Capital Management LLC boosted its stake in Skechers U.S.A. by 1.0% in the 4th quarter. 1492 Capital Management LLC now owns 26,270 shares of the textile maker’s stock worth $1,638,000 after buying an additional 259 shares during the last quarter. Institutional investors and hedge funds own 79.96% of the company’s stock.

Skechers U.S.A. Stock Performance

Shares of NYSE:SKX opened at $67.30 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.33 and a current ratio of 2.06. Skechers U.S.A., Inc. has a one year low of $45.58 and a one year high of $75.09. The business’s 50-day simple moving average is $65.49 and its 200 day simple moving average is $65.23. The company has a market cap of $10.25 billion, a P/E ratio of 17.71, a PEG ratio of 0.92 and a beta of 1.23.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, July 25th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.04). Skechers U.S.A. had a return on equity of 13.04% and a net margin of 6.90%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Skechers U.S.A.’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, sell-side analysts forecast that Skechers U.S.A., Inc. will post 4.17 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SKX has been the topic of several research analyst reports. Wells Fargo & Company initiated coverage on Skechers U.S.A. in a research note on Wednesday, June 12th. They issued an “overweight” rating and a $83.00 price objective on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Skechers U.S.A. in a research note on Thursday, June 13th. Barclays lifted their price objective on Skechers U.S.A. from $78.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Stifel Nicolaus lifted their price objective on Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Evercore ISI lifted their price objective on Skechers U.S.A. from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Thirteen equities research analysts have rated the stock with a buy rating, According to MarketBeat, Skechers U.S.A. presently has a consensus rating of “Buy” and a consensus target price of $76.75.

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.