Skechers USA Inc. (NYSE:SKX)’s share price shot up 4.7% during trading on Thursday . The stock traded as high as $24.88 and last traded at $24.73, with a volume of 3,058,161 shares changing hands. The stock had previously closed at $23.61.

Several brokerages have commented on SKX. B. Riley reaffirmed a “buy” rating and issued a $42.00 price objective on shares of Skechers USA in a research report on Monday, April 25th. Zacks Investment Research raised Skechers USA from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research report on Monday, April 25th. Monness Crespi & Hardt downgraded 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. Vetr raised Skechers USA from a “hold” rating to a “buy” rating and set a $34.68 price target on the stock in a research report on Tuesday, July 19th. Finally, Morgan Stanley reissued a “buy” rating on shares of Skechers USA in a research report on Monday, June 6th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Skechers USA presently has a consensus rating of “Buy” and an average price target of $32.06.

The stock has a market capitalization of $3.91 billion and a PE ratio of 14.32. The stock has a 50-day moving average of $27.83 and a 200 day moving average of $29.88.

Skechers USA (NYSE:SKX) last released its earnings results on Thursday, July 21st. The company reported $0.50 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.02. During the same period last year, the firm earned $0.52 earnings per share. The company earned $877.80 million during the quarter, compared to analysts’ expectations of $892.06 million. On average, equities analysts anticipate that Skechers USA Inc. will post $1.83 EPS for the current year.

In related news, CEO Robert Greenberg sold 300,000 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Phillip Paccione sold 1,389 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $24.12, for a total value of $33,502.68. Following the transaction, the general counsel now directly owns 90,445 shares of the company’s stock, valued at $2,181,533.40. The disclosure for this sale can be found here.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Skechers USA by 211.4% in the fourth quarter. Vanguard Group Inc. now owns 10,454,998 shares of the company’s stock valued at $315,845,000 after buying an additional 7,098,035 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Skechers USA by 120.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,842,166 shares of the company’s stock valued at $116,075,000 after buying an additional 2,096,640 shares in the last quarter. Wells Fargo & Company MN boosted its position in Skechers USA by 189.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,999,206 shares of the company’s stock valued at $60,396,000 after buying an additional 1,308,264 shares in the last quarter. Hodges Capital Management Inc. acquired a new position in Skechers USA during the fourth quarter valued at about $25,007,000. Finally, Principal Financial Group Inc. boosted its position in Skechers USA by 237.5% in the fourth quarter. Principal Financial Group Inc. now owns 963,736 shares of the company’s stock valued at $29,114,000 after buying an additional 678,165 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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