Point72 Asia Singapore Pte. Ltd. Has $492,000 Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 8.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,355 shares of the textile maker’s stock after purchasing an additional 545 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Skechers U.S.A. were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SKX. Virtu Financial LLC acquired a new position in Skechers U.S.A. during the 1st quarter worth approximately $203,000. Cetera Advisors LLC acquired a new position in shares of Skechers U.S.A. during the first quarter worth approximately $600,000. GAMMA Investing LLC lifted its holdings in shares of Skechers U.S.A. by 107.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,168 shares of the textile maker’s stock worth $81,000 after purchasing an additional 605 shares in the last quarter. First Hawaiian Bank acquired a new stake in Skechers U.S.A. in the 2nd quarter valued at $673,000. Finally, Harbor Capital Advisors Inc. bought a new stake in Skechers U.S.A. during the 2nd quarter valued at $1,813,000. Institutional investors own 79.96% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on SKX. Barclays raised their price objective on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Morgan Stanley raised their price target 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. Deutsche Bank Aktiengesellschaft lifted their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Needham & Company LLC began coverage on Skechers U.S.A. in a research note on Friday, November 22nd. They issued a “hold” rating for the company. Finally, TD Cowen cut their target price 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. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Skechers U.S.A. presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.09.

Skechers U.S.A. Stock Up 2.9 %

SKX stock opened at $65.66 on Tuesday. The stock has a market cap of $9.91 billion, a P/E ratio of 16.17, a P/E/G ratio of 0.89 and a beta of 1.22. The company has a current ratio of 1.96, a quick ratio of 1.25 and a debt-to-equity ratio of 0.01. The stock’s fifty day simple moving average is $63.44 and its two-hundred day simple moving average is $66.04. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09.

Skechers U.S.A. (NYSE:SKX) last released its earnings results on Thursday, October 24th. The textile maker reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.11. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a return on equity of 13.71% and a net margin of 7.19%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 EPS. Analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current year.

Skechers U.S.A. Company 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.