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Skechers USA (NYSE:SKX) shares reached a new 52-week high during trading on Tuesday , AR Network reports. The stock traded as high as $54.31 and last traded at $54.11, with a volume of 414,458 shares traded. The stock had previously closed at $53.40.

SKX has been the subject of a number of recent research reports. Analysts at Sidoti upgraded shares of Skechers USA from a “neutral” rating to a “buy” rating in a research note on Thursday, July 24th. Separately, analysts at B. Riley raised their price target on shares of Skechers USA from $49.00 to $58.00 in a research note on Thursday, July 24th. Finally, analysts at B. Riley reiterated a “buy” rating on shares of Skechers USA in a research note on Tuesday, July 22nd. They now have a $58.00 price target on the stock, up previously from $49.00. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Skechers USA presently has an average rating of “Buy” and a consensus price target of $45.75.

The stock has a 50-day moving average of $46.54 and a 200-day moving average of $38.58. The company has a market cap of $2.707 billion and a P/E ratio of 25.43.

Skechers USA (NYSE:SKX) last announced its earnings results on Wednesday, July 23rd. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.40 by $0.28. The company had revenue of $587.10 million for the quarter, compared to the consensus estimate of $508.82 million. During the same quarter in the prior year, the company posted $0.14 earnings per share. The company’s quarterly revenue was up 37.1% on a year-over-year basis. Analysts expect that Skechers USA will post $2.47 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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