Cwm LLC Purchases 451 Shares of Skechers U.S.A., Inc. (NYSE:SKX)

Cwm LLC raised its position in Skechers U.S.A., Inc. (NYSE:SKX) by 4.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,637 shares of the textile maker’s stock after purchasing an additional 451 shares during the period. Cwm LLC’s holdings in Skechers U.S.A. were worth $712,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SKX. Vanguard Group Inc. boosted its holdings in Skechers U.S.A. by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 12,626,633 shares of the textile maker’s stock valued at $787,144,000 after purchasing an additional 40,138 shares during the period. Park Avenue Securities LLC raised its position in shares of Skechers U.S.A. by 4.3% during the 1st quarter. Park Avenue Securities LLC now owns 12,262 shares of the textile maker’s stock valued at $751,000 after buying an additional 502 shares in the last quarter. FCF Advisors LLC raised its position in shares of Skechers U.S.A. by 8.0% during the 1st quarter. FCF Advisors LLC now owns 13,951 shares of the textile maker’s stock valued at $855,000 after buying an additional 1,029 shares in the last quarter. Game Plan Financial Advisors LLC purchased a new stake in shares of Skechers U.S.A. during the 1st quarter valued at $43,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Skechers U.S.A. during the 1st quarter valued at $45,000. 79.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SKX has been the topic of several research reports. Bank of America lowered their price objective on shares of Skechers U.S.A. from $87.00 to $81.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. Wedbush raised their price objective on shares of 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. TD Cowen lowered 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 research report on Monday, October 14th. Stifel Nicolaus raised their price objective on shares of Skechers U.S.A. from $81.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their target price on shares of Skechers U.S.A. from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Eleven research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $77.55.

Skechers U.S.A. Price Performance

Shares of NYSE:SKX opened at $63.10 on Friday. The company’s fifty day moving average is $66.19 and its 200 day moving average is $66.00. Skechers U.S.A., Inc. has a 52 week low of $45.58 and a 52 week high of $75.09. The stock has a market cap of $9.62 billion, a PE ratio of 16.61, a PEG ratio of 0.92 and a beta of 1.22. The company has a quick ratio of 1.33, a current ratio of 2.06 and a debt-to-equity ratio of 0.01.

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

Skechers U.S.A. declared that its board has initiated a share repurchase plan on Thursday, July 25th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the textile maker to buy up to 10.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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.