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Skechers USA (NYSE:SKX) was upgraded by investment analysts at TheStreet from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, Analyst RN reports.

The analysts wrote, “Skechers USA (SKX) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, impressive record of earnings per share growth and compelling growth in net income. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.”

SKX has been the subject of a number of other recent research reports. Analysts at Sterne Agee raised their price target on shares of Skechers USA from $43.00 to $50.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Skechers USA from $40.00 to $48.00 in a research note on Wednesday. They now have a “positive” rating on the stock. Finally, analysts at B. Riley raised their price target on shares of Skechers USA to $49.00 in a research note on Wednesday. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $39.00.

Skechers USA (NYSE:SKX) traded up 3.66% on Thursday, hitting $39.94. The stock had a trading volume of 1,491,377 shares. Skechers USA has a 52 week low of $19.99 and a 52 week high of $41.72. The stock has a 50-day moving average of $35.49 and a 200-day moving average of $32.40. The company has a market cap of $2.030 billion and a price-to-earnings ratio of 35.68.

Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.61 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.95 by $0.34. The company had revenue of $546.50 million for the quarter, compared to the consensus estimate of $508.82 million. During the same quarter last year, the company posted $0.93 earnings per share. Skechers USA’s revenue was up 21.0% compared to the same quarter last year. Analysts expect that Skechers USA will post $1.81 EPS for the current fiscal year.

Skechers U.SA, Inc (NYSE:SKX) designs and markets Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under several lines.

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