Skechers USA Inc. (NYSE:SKX) saw strong trading volume on Tuesday . 2,776,729 shares changed hands during trading, an increase of 22% from the previous session’s volume of 2,273,212 shares.The stock last traded at $32.51 and had previously closed at $31.12.

A number of analysts have weighed in on the company. Zacks Investment Research lowered Skechers USA from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Vetr upgraded Skechers USA from a “sell” rating to a “strong-buy” rating and set a $49.62 target price for the company in a report on Tuesday, June 7th. Morgan Stanley restated a “buy” rating on shares of Skechers USA in a report on Monday, June 6th. B. Riley restated a “buy” rating and set a $42.00 target price on shares of Skechers USA in a report on Monday, April 25th. Finally, OTR Global downgraded Skechers USA to a “positive” rating in a research report on Thursday, April 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $33.72.

The company has a market cap of $5.13 billion and a P/E ratio of 18.48. The firm has a 50 day moving average of $29.95 and a 200 day moving average of $30.18.

Skechers USA (NYSE:SKX) last issued its earnings results on Thursday, April 21st. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.09. The company had revenue of $978.80 million for the quarter, compared to analyst estimates of $914.87 million. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.10 earnings per share. On average, analysts anticipate that Skechers USA Inc. will post $2.09 earnings per share for the current fiscal year.

In other Skechers USA news, EVP Mark A. Nason sold 9,055 shares of the company’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $30.00, for a total value of $271,650.00. Following the sale, the executive vice president now owns 108,752 shares of the company’s stock, valued at $3,262,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert Greenberg sold 300,000 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $31.44, for a total transaction of $9,432,000.00. Following the completion of the sale, the chief executive officer now directly owns 277,693 shares in the company, valued at approximately $8,730,667.92. The disclosure for this sale can be found here.

Several hedge funds have made changes to their positions in SKX. Russell Frank Co increased its stake in shares of Skechers USA by 114.7% in the fourth quarter. Russell Frank Co now owns 456,917 shares of the company’s stock valued at $14,188,000 after buying an additional 244,116 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Skechers USA by 195.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 163,343 shares of the company’s stock valued at $4,935,000 after buying an additional 108,112 shares during the period. California State Teachers Retirement System increased its stake in shares of Skechers USA by 204.8% in the fourth quarter. California State Teachers Retirement System now owns 227,478 shares of the company’s stock valued at $6,872,000 after buying an additional 152,854 shares during the period. Oregon Public Employees Retirement Fund increased its stake in shares of Skechers USA by 200.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 40,200 shares of the company’s stock valued at $1,214,000 after buying an additional 26,800 shares during the period. Finally, State Treasurer State of Michigan increased its stake in shares of Skechers USA by 111.5% in the fourth quarter. State Treasurer State of Michigan now owns 51,400 shares of the company’s stock valued at $1,553,000 after buying an additional 27,100 shares during the period.

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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