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Analysts at Sterne Agee upped their price objective on shares of Skechers USA (NYSE:SKX) from $60.00 to $70.00 in a research report issued to clients and investors on Monday. Sterne Agee’s price objective indicates a potential upside of 19.15% from the stock’s previous close.

Shares of Skechers USA (NYSE:SKX) opened at 58.75 on Monday. Skechers USA has a 52 week low of $26.46 and a 52 week high of $59.20. The stock’s 50-day moving average is $51.98 and its 200-day moving average is $41.98. The company has a market cap of $3.009 billion and a P/E ratio of 27.56.

Skechers USA (NYSE:SKX) last released its earnings data on Wednesday, July 23rd. The company reported $0.68 earnings per share (EPS) for the quarter, beating the 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 previous 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.

Other equities research analysts have also recently issued reports about the stock. 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, August 20th. 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 equities research 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. The company currently has a consensus rating of “Buy” and a consensus target price of $52.25.

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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