Guggenheim Capital LLC decreased its position in Skechers USA Inc (NYSE:SKX) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 346,944 shares of the textile maker’s stock after selling 5,990 shares during the quarter. Guggenheim Capital LLC’s holdings in Skechers USA were worth $13,127,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of SKX. Tower Research Capital LLC TRC acquired a new stake in Skechers USA during the fourth quarter worth approximately $139,000. Advisor Partners LLC acquired a new stake in Skechers USA during the fourth quarter worth approximately $203,000. CIBC Asset Management Inc acquired a new stake in Skechers USA during the fourth quarter worth approximately $202,000. Dearborn Partners LLC acquired a new stake in Skechers USA during the fourth quarter worth approximately $214,000. Finally, Private Advisor Group LLC acquired a new stake in Skechers USA during the fourth quarter worth approximately $222,000. 73.09% of the stock is currently owned by institutional investors.
Shares of Skechers USA Inc (NYSE:SKX) opened at $39.47 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.06 and a current ratio of 3.52. Skechers USA Inc has a 12 month low of $22.64 and a 12 month high of $42.73. The firm has a market capitalization of $6,514.34, a price-to-earnings ratio of 34.62, a price-to-earnings-growth ratio of 1.18 and a beta of 0.24.
Skechers USA (NYSE:SKX) last released its earnings results on Thursday, February 8th. The textile maker reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.08. Skechers USA had a return on equity of 14.63% and a net margin of 4.30%. The firm had revenue of $970.59 million during the quarter, compared to analysts’ expectations of $881.39 million. During the same period in the prior year, the company earned $0.04 earnings per share. The company’s quarterly revenue was up 27.0% on a year-over-year basis. equities analysts anticipate that Skechers USA Inc will post 2.3 EPS for the current fiscal year.
Skechers USA announced that its board has authorized a stock repurchase program on Thursday, February 8th that allows the company to buyback $150.00 million in shares. This buyback authorization allows the textile maker to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts recently issued reports on SKX shares. Vetr raised Skechers USA from a “sell” rating to a “hold” rating and set a $39.03 price target on the stock in a research report on Monday, February 19th. Argus raised Skechers USA from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Wedbush reissued a “buy” rating and set a $45.00 price target (up previously from $39.00) on shares of Skechers USA in a research report on Wednesday, January 3rd. Citigroup increased their price target on Skechers USA from $34.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, Cowen set a $42.00 price target on Skechers USA and gave the stock a “buy” rating in a research report on Monday, December 18th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $41.29.
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About Skechers USA
Skechers U.SA, Inc is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company operates through three segments: domestic wholesale sales, international wholesale sales, and retail sales, which includes e-commerce sales.
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