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Skechers USA (NYSE:SKX)‘s stock had its “outperform” rating reiterated by Zacks in a research report issued on Monday. They currently have a $58.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 10.92% from the company’s current price.

Shares of Skechers USA (NYSE:SKX) traded up 1.40% during mid-day trading on Monday, hitting $53.02. The stock had a trading volume of 180,934 shares. Skechers USA has a 52 week low of $26.46 and a 52 week high of $54.49. The stock’s 50-day moving average is $47.39 and its 200-day moving average is $39.09. The company has a market cap of $2.681 billion and a price-to-earnings ratio of 24.90.

Skechers USA (NYSE:SKX) last released its earnings data 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.

SKX has been the subject of a number of other 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. Skechers USA currently has an average rating of “Buy” and an average target price of $46.75.

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.

To view Zacks’ full report, visit Zacks’ official website.

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