Shares of Skechers USA Inc. (NYSE:SKX) reached a new 52-week low on Thursday . The stock traded as low as $24.10 and last traded at $24.15, with a volume of 1,829,815 shares trading hands. The stock had previously closed at $24.33.

SKX has been the subject of several research analyst reports. Zacks Investment Research raised shares of Skechers USA from a “sell” rating to a “hold” rating in a research note on Monday, July 18th. B. Riley reaffirmed a “buy” rating and set a $42.00 price target on shares of Skechers USA in a research note on Tuesday, July 19th. Morgan Stanley reaffirmed a “buy” rating on shares of Skechers USA in a research note on Monday, June 6th. Dundee Securities lifted their price target on shares of Skechers USA from C$1.60 to C$1.75 in a research note on Monday, April 4th. Finally, Vetr raised shares of Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 price target for the company in a research note on Tuesday, July 19th. Six research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Skechers USA has an average rating of “Buy” and an average target price of $32.06.

The company has a market cap of $3.70 billion and a PE ratio of 13.89. The firm’s 50 day moving average price is $29.52 and its 200 day moving average price is $30.16.

Skechers USA (NYSE:SKX) last released its earnings results on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.02. The business earned $877.80 million during the quarter, compared to the consensus estimate of $892.06 million. During the same period in the prior year, the company posted $0.52 earnings per share. On average, equities research analysts predict that Skechers USA Inc. will post $1.87 EPS for the current fiscal year.

In other news, President Michael Greenberg sold 200,000 shares of the company’s stock in a transaction on Monday, May 2nd. The stock was sold at an average price of $33.87, for a total transaction of $6,774,000.00. Following the sale, the president now owns 616,433 shares of the company’s stock, valued at $20,878,585.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert Greenberg sold 300,000 shares of the company’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $31.44, for a total value of $9,432,000.00. Following 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 recently bought and sold shares of SKX. Pinnacle Associates Ltd. bought a new stake in Skechers USA during the fourth quarter worth $1,045,000. Quantitative Investment Management LLC raised its stake in Skechers USA by 380.3% in the fourth quarter. Quantitative Investment Management LLC now owns 36,500 shares of the company’s stock worth $1,102,000 after buying an additional 28,900 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Skechers USA by 205.8% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 37,682 shares of the company’s stock worth $1,138,000 after buying an additional 25,359 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Skechers USA by 132.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 38,925 shares of the company’s stock worth $1,175,000 after buying an additional 22,210 shares in the last quarter. Finally, 1492 Capital Management LLC raised its stake in Skechers USA by 174.8% in the fourth quarter. 1492 Capital Management LLC now owns 39,228 shares of the company’s stock worth $1,185,000 after buying an additional 24,952 shares in the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.