Nomura Holdings Inc. raised its holdings in shares of Skechers USA Inc (NYSE:SKX) by 92.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,975 shares of the textile maker’s stock after purchasing an additional 9,605 shares during the period. Nomura Holdings Inc.’s holdings in Skechers USA were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Hanseatic Management Services Inc. acquired a new position in Skechers USA during the 2nd quarter valued at about $43,000. Atria Investments LLC acquired a new position in Skechers USA during the 2nd quarter valued at about $346,000. Machina Capital S.A.S. acquired a new position in Skechers USA during the 2nd quarter valued at about $120,000. Cutter & CO Brokerage Inc. acquired a new position in Skechers USA during the 2nd quarter valued at about $234,000. Finally, Sciencast Management LP acquired a new stake in shares of Skechers USA in the 2nd quarter valued at approximately $338,000. Institutional investors own 76.28% of the company’s stock.
A number of brokerages recently weighed in on SKX. OTR Global upgraded shares of Skechers USA from a “mixed” rating to a “positive” rating in a research report on Thursday, July 11th. Stifel Nicolaus increased their price target on shares of Skechers USA from $35.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Susquehanna Bancshares increased their price target on shares of Skechers USA from $37.00 to $42.00 and gave the company a “positive” rating in a research report on Friday, July 19th. Wedbush set a $46.00 price target on shares of Skechers USA and gave the company a “buy” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Co set a $40.00 price target on shares of Skechers USA and gave the company a “hold” rating in a research report on Friday, July 19th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.50.
SKX stock traded down $0.27 during mid-day trading on Friday, hitting $36.26. 381,460 shares of the company were exchanged, compared to its average volume of 2,148,852. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.65 and a current ratio of 2.51. The firm has a market cap of $5.74 billion, a P/E ratio of 18.88, a P/E/G ratio of 1.08 and a beta of 0.80. The firm’s 50 day simple moving average is $33.59 and its 200 day simple moving average is $32.63. Skechers USA Inc has a 1-year low of $21.45 and a 1-year high of $40.50.
Skechers USA (NYSE:SKX) last announced its earnings results on Thursday, July 18th. The textile maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.33 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.23 billion. Skechers USA had a net margin of 6.72% and a return on equity of 14.59%. The business’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. On average, equities research analysts predict that Skechers USA Inc will post 2.25 EPS for the current fiscal year.
About Skechers USA
Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.
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