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Skechers USA (NYSE:SKX) shares hit a new 52-week high on Friday , American Banking & Market News reports. The company traded as high as $59.01 and last traded at $58.87, with a volume of 378,469 shares trading hands. The stock had previously closed at $57.87.

A number of analysts have recently weighed in on SKX shares. Analysts at Citigroup Inc. raised their price target on shares of Skechers USA from $60.00 to $66.00 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 $60.00 to $65.00 in a research note on Thursday, August 14th. They now have a “positive” rating on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Skechers USA in a research note on Monday, August 4th. They now have a $58.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $49.75.

The stock has a 50-day moving average of $51.63 and a 200-day moving average of $41.76. The company has a market cap of $3.014 billion and a price-to-earnings ratio of 27.56.

Skechers USA (NYSE:SKX) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $0.68 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.14 earnings per share. Skechers USA’s revenue was up 37.1% compared to the same quarter last year. On average, analysts predict that Skechers USA will post $2.55 earnings per share 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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