Skechers USA Inc. (NYSE:SKX) 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.

A number of research firms recently issued reports on SKX. Monness Crespi & Hardt lowered Skechers USA from a “buy” rating to a “neutral” rating in a research note 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 note on Monday, June 6th. OTR Global lowered Skechers USA to a “positive” rating in a research note on Thursday, April 7th. Vetr raised Skechers USA from a “sell” rating to a “strong-buy” rating and set a $49.62 target price on the stock in a research note on Tuesday, June 7th. Finally, Argus lowered Skechers USA from a “buy” rating to a “hold” rating in a research note on Monday. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Skechers USA presently has a consensus rating of “Buy” and an average target price of $32.06.

The firm has a market capitalization of $3.62 billion and a PE ratio of 13.59. The firm 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 issued its earnings results on Thursday, July 21st. The company reported $0.50 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.02. During the same period last year, the firm earned $0.52 EPS. The company had revenue of $877.80 million for the quarter, compared to analysts’ expectations of $892.06 million. Equities analysts anticipate that Skechers USA Inc. will post $1.83 earnings per share for the current year.

In related news, General Counsel Phillip Paccione sold 3,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $30.23, for a total value of $105,805.00. Following the completion of the transaction, the general counsel now owns 91,000 shares of the company’s stock, valued at approximately $2,750,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert Greenberg sold 300,000 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $31.44, for a total transaction of $9,432,000.00. Following the completion of the transaction, the chief executive officer now directly owns 277,693 shares of the company’s stock, valued at approximately $8,730,667.92. The disclosure for this sale can be found here.

A number of institutional investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position 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 position 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. 1492 Capital Management LLC raised its position 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. Whitebox Advisors LLC purchased a new position in Skechers USA during the fourth quarter worth approximately $1,196,000. Finally, BNP Paribas Arbitrage SA raised its position in Skechers USA by 182.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 75,553 shares of the company’s stock worth $2,282,000 after buying an additional 48,759 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.

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