Skechers USA Inc (NYSE:SKX) traded down 7.9% during mid-day trading on Wednesday . The stock traded as low as $25.94 and last traded at $26.42. 8,146,875 shares traded hands during mid-day trading, an increase of 161% from the average session volume of 3,117,588 shares. The stock had previously closed at $28.70.

Several equities research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Skechers USA from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Standpoint Research upgraded shares of Skechers USA from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. UBS Group downgraded shares of Skechers USA from a “positive” rating to a “neutral” rating and cut their target price for the company from $41.00 to $37.00 in a research note on Friday, July 20th. Wells Fargo & Co downgraded shares of Skechers USA from an “outperform” rating to a “market perform” rating and set a $36.00 target price for the company. in a research note on Friday, July 20th. Finally, Buckingham Research cut their target price on shares of Skechers USA from $42.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, July 20th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Skechers USA currently has an average rating of “Hold” and a consensus price target of $37.79.

The firm has a market cap of $4.21 billion, a price-to-earnings ratio of 14.97, a PEG ratio of 1.53 and a beta of 0.34. The company has a current ratio of 3.28, a quick ratio of 2.14 and a debt-to-equity ratio of 0.03.

Skechers USA (NYSE:SKX) last released its quarterly earnings results on Thursday, July 19th. The textile maker reported $0.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.12). The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. Skechers USA had a net margin of 4.24% and a return on equity of 14.17%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. equities analysts anticipate that Skechers USA Inc will post 1.73 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the business. US Bancorp DE raised its holdings in Skechers USA by 169.5% in the 2nd quarter. US Bancorp DE now owns 4,069 shares of the textile maker’s stock valued at $122,000 after acquiring an additional 2,559 shares during the period. NumerixS Investment Technologies Inc bought a new position in Skechers USA in the 2nd quarter valued at about $141,000. Strs Ohio bought a new position in Skechers USA in the 2nd quarter valued at about $184,000. Landscape Capital Management L.L.C. bought a new position in Skechers USA in the 1st quarter valued at about $205,000. Finally, Creative Planning bought a new position in Skechers USA in the 2nd quarter valued at about $211,000. 70.91% of the stock is currently owned by hedge funds and other institutional investors.

Skechers USA Company Profile (NYSE:SKX)

Skechers U.SA, Inc designs, develops, markets, and distributes footwear for men, women, and children; and performance footwear for men and women under the Skechers GO brand worldwide. It operates through three segments: Domestic Wholesale Sales, International Wholesale Sales, and Retail Sales. The company offers casual boots, shoes, and sandals for men; shoes, oxfords and slip-ons, lug outsole and fashion boots, and casual sandals for women; dress casuals, seasonal sandals and boots, classic and wide fit, and relaxed fit casuals for men and women; and casual athletic line for men and women under the Skechers USA brand.

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