Skechers USA Inc. (NYSE:SKX) shares hit a new 52-week low during trading on Wednesday . The stock traded as low as $22.50 and last traded at $23.67, with a volume of 1,676,341 shares traded. The stock had previously closed at $22.88.

Several analysts have issued reports on SKX shares. Monness Crespi & Hardt lowered shares of Skechers USA from a “buy” rating to a “neutral” rating in a research report on Friday, July 22nd. They noted that the move was a valuation call. Morgan Stanley reaffirmed a “buy” rating on shares of Skechers USA in a research report on Monday, June 6th. OTR Global lowered shares of Skechers USA to a “positive” rating in a research report on Thursday, April 7th. Vetr raised shares of Skechers USA from a “sell” rating to a “strong-buy” rating and set a $49.62 price target on the stock in a research report on Tuesday, June 7th. Finally, Argus lowered shares of Skechers USA from a “buy” rating to a “hold” rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $32.06.

The stock has a market cap of $3.62 billion and a PE ratio of 13.59. The stock has a 50 day moving average price of $28.80 and a 200 day moving average price of $30.09.

Skechers USA (NYSE:SKX) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. During the same quarter last year, the company earned $0.52 earnings per share. The business had revenue of $877.80 million for the quarter, compared to analysts’ expectations of $892.06 million. Analysts predict that Skechers USA Inc. will post $1.83 EPS for the current fiscal year.

In related news, General Counsel Phillip Paccione sold 3,500 shares of the business’s stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $30.23, for a total value of $105,805.00. Following the transaction, the general counsel now directly owns 91,000 shares of the company’s stock, valued at approximately $2,750,930. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey Greenberg sold 10,000 shares of the business’s stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $30.15, for a total transaction of $301,500.00. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of the company. Comerica Bank increased its position in shares of Skechers USA by 206.3% in the fourth quarter. Comerica Bank now owns 91,781 shares of the company’s stock worth $2,457,000 after buying an additional 61,819 shares during the period. New York State Common Retirement Fund increased its position in shares of Skechers USA by 217.1% in the fourth quarter. New York State Common Retirement Fund now owns 462,425 shares of the company’s stock worth $13,970,000 after buying an additional 316,596 shares during the period. State of Wisconsin Investment Board increased its position in shares of Skechers USA by 192.1% in the fourth quarter. State of Wisconsin Investment Board now owns 89,290 shares of the company’s stock worth $2,697,000 after buying an additional 58,720 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of 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 during the period. Finally, Vanguard Group Inc. increased its position in shares of Skechers USA by 211.4% in the fourth quarter. Vanguard Group Inc. now owns 10,454,998 shares of the company’s stock worth $315,845,000 after buying an additional 7,098,035 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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