4,928 Shares in Skechers U.S.A., Inc. (NYSE:SKX) Bought by Semanteon Capital Management LP

Semanteon Capital Management LP purchased a new position in shares of Skechers U.S.A., Inc. (NYSE:SKX) during the third quarter, Holdings Channel reports. The institutional investor purchased 4,928 shares of the textile maker’s stock, valued at approximately $330,000.

A number of other hedge funds have also bought and sold shares of the business. Redmont Wealth Advisors LLC bought a new stake in shares of Skechers U.S.A. in the first quarter valued at $25,000. Bessemer Group Inc. raised its stake in shares of Skechers U.S.A. by 66.7% in the first quarter. Bessemer Group Inc. now owns 410 shares of the textile maker’s stock valued at $25,000 after buying an additional 164 shares during the period. UMB Bank n.a. raised its stake in shares of 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 buying an additional 364 shares during the period. Versant Capital Management Inc grew its position in shares of Skechers U.S.A. by 2,809.1% in the second quarter. Versant Capital Management Inc now owns 640 shares of the textile maker’s stock valued at $44,000 after purchasing an additional 618 shares in the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of Skechers U.S.A. in the first quarter valued at $45,000. 79.96% of the stock is currently owned by institutional investors.

Skechers U.S.A. Stock Up 4.5 %

Shares of Skechers U.S.A. stock opened at $61.86 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.96 and a quick ratio of 1.25. Skechers U.S.A., Inc. has a 1 year low of $46.06 and a 1 year high of $75.09. The firm’s 50-day moving average is $65.89 and its two-hundred day moving average is $66.26. The stock has a market cap of $9.42 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 0.83 and a beta of 1.22.

Skechers U.S.A. (NYSE:SKX) last released its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.15 by $0.11. The business had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Skechers U.S.A. had a net margin of 7.19% and a return on equity of 13.71%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. As a group, research analysts expect that Skechers U.S.A., Inc. will post 4.2 earnings per share for the current fiscal year.

Skechers U.S.A. announced that its board has authorized a stock repurchase program on Thursday, July 25th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the textile maker to buy up to 10.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on SKX shares. Evercore ISI boosted their target price on 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. Bank of America cut their price target on shares of Skechers U.S.A. from $81.00 to $80.00 and set a “buy” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Skechers U.S.A. from $83.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday. Wedbush boosted 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. Finally, Barclays lifted their price target on shares of Skechers U.S.A. from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Skechers U.S.A. has an average rating of “Buy” and a consensus price target of $78.09.

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.