Caisse DE Depot ET Placement DU Quebec Takes $2.55 Million Position in Skechers U.S.A., Inc. (NYSE:SKX)

Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) in the third quarter, HoldingsChannel.com reports. The fund purchased 38,139 shares of the textile maker’s stock, valued at approximately $2,552,000.

A number of other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. grew its position in Skechers U.S.A. by 423.3% in the third quarter. UMB Bank n.a. now owns 450 shares of the textile maker’s stock valued at $30,000 after acquiring an additional 364 shares during the last quarter. Venturi Wealth Management LLC increased its position in Skechers U.S.A. by 52.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 864 shares of the textile maker’s stock worth $58,000 after purchasing an additional 299 shares in the last quarter. Blue Trust Inc. lifted its stake in Skechers U.S.A. by 778.1% in the 3rd quarter. Blue Trust Inc. now owns 1,001 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 887 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Skechers U.S.A. during the 2nd quarter valued at $69,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Skechers U.S.A. during the third quarter valued at about $67,000. 79.96% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SKX. StockNews.com lowered shares of Skechers U.S.A. from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Needham & Company LLC began coverage on Skechers U.S.A. in a report on Friday, November 22nd. They issued a “hold” rating for the company. TD Cowen dropped 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 research report on Monday, October 14th. Barclays lifted their price objective on Skechers U.S.A. from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Bank of America lowered their target price on Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a report on Friday, October 25th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.09.

Skechers U.S.A. Stock Performance

SKX opened at $65.66 on Tuesday. The company has a market cap of $9.91 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 0.89 and a beta of 1.23. The company’s fifty day moving average price is $63.44 and its two-hundred day moving average price is $66.04. Skechers U.S.A., Inc. has a 1-year low of $55.67 and a 1-year high of $75.09. 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. (NYSE:SKX) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share 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 analyst estimates of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 EPS. On average, analysts expect that Skechers U.S.A., Inc. will post 4.25 EPS for the current fiscal year.

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.