Wealth Enhancement Advisory Services LLC Has $539,000 Stock Holdings in Skechers U.S.A., Inc. (NYSE:SKX)

Wealth Enhancement Advisory Services LLC increased its stake in shares of Skechers U.S.A., Inc. (NYSE:SKX) by 115.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,021 shares of the textile maker’s stock after acquiring an additional 4,300 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Skechers U.S.A. were worth $539,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SKX. NewEdge Advisors LLC boosted its position in shares of Skechers U.S.A. by 85.2% in the fourth quarter. NewEdge Advisors LLC now owns 413 shares of the textile maker’s stock valued at $28,000 after acquiring an additional 190 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Skechers U.S.A. by 534.3% in the 4th quarter. TD Private Client Wealth LLC now owns 425 shares of the textile maker’s stock worth $29,000 after purchasing an additional 358 shares in the last quarter. Investment Management Corp VA ADV bought a new position in Skechers U.S.A. during the 4th quarter valued at $32,000. IFP Advisors Inc raised its stake in shares of Skechers U.S.A. by 62.4% during the 4th quarter. IFP Advisors Inc now owns 825 shares of the textile maker’s stock worth $55,000 after purchasing an additional 317 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in Skechers U.S.A. in the 4th quarter valued at about $65,000. Institutional investors own 79.96% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SKX. Stifel Nicolaus decreased their price objective on shares of Skechers U.S.A. from $80.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Barclays reissued an “equal weight” rating and issued a $63.00 target price (up previously from $53.00) on shares of Skechers U.S.A. in a research report on Tuesday, May 6th. Monness Crespi & Hardt downgraded Skechers U.S.A. from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 7th. TD Cowen cut Skechers U.S.A. from a “buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a report on Wednesday, May 28th. Finally, Raymond James lowered Skechers U.S.A. from a “moderate buy” rating to a “hold” rating in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Skechers U.S.A. currently has a consensus rating of “Hold” and a consensus price target of $67.69.

Skechers U.S.A. Stock Performance

Shares of SKX stock opened at $62.60 on Thursday. Skechers U.S.A., Inc. has a 1-year low of $44.50 and a 1-year high of $78.85. The stock’s fifty day simple moving average is $55.94 and its 200-day simple moving average is $62.17. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 1.11 and a beta of 1.13. The company has a current ratio of 1.97, a quick ratio of 1.12 and a debt-to-equity ratio of 0.01.

Skechers U.S.A. (NYSE:SKX) last posted its quarterly earnings data on Thursday, April 24th. The textile maker reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.17. The firm had revenue of $2.41 billion for the quarter, compared to the consensus estimate of $2.43 billion. Skechers U.S.A. had a return on equity of 13.73% and a net margin of 7.13%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. On average, sell-side analysts predict that Skechers U.S.A., Inc. will post 4.47 earnings per share 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.