Skechers USA Inc (NYSE:SKX) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research report issued on Monday, Analyst Ratings Network.com reports. The brokerage presently has a $29.03 price objective on the stock. Vetr‘s target price indicates a potential upside of 4.39% from the stock’s current price.

A number of other equities analysts have also recently issued reports on SKX. Argus initiated coverage on shares of Skechers USA in a research report on Tuesday, October 13th. They set a “buy” rating and a $51.67 price objective on the stock. BB&T Corp. began coverage on shares of Skechers USA in a report on Friday, October 16th. They issued a “buy” rating and a $150.00 target price on the stock. Buckingham Research lowered their target price on shares of Skechers USA to $55.00 in a report on Tuesday, October 20th. B. Riley restated a “buy” rating and issued a $54.00 target price on shares of Skechers USA in a report on Wednesday, October 21st. Finally, Monness Crespi & Hardt lowered their target price on shares of Skechers USA from $53.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, October 23rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Skechers USA has a consensus rating of “Buy” and an average target price of $48.53.

Several hedge funds and institutional investors recently added to or reduced their stakes in SKX. Creative Planning bought a new position in Skechers USA during the fourth quarter worth $0. Beacon Financial Group increased its position in Skechers USA by 9.8% in the fourth quarter. Beacon Financial Group now owns 12,905 shares of the company’s stock worth $400,000 after buying an additional 1,157 shares in the last quarter. 1st Global Advisors Inc. increased its position in Skechers USA by 129.5% in the fourth quarter. 1st Global Advisors Inc. now owns 17,962 shares of the company’s stock worth $543,000 after buying an additional 10,136 shares in the last quarter. EQIS Capital Management increased its position in Skechers USA by 117.0% in the fourth quarter. EQIS Capital Management now owns 18,959 shares of the company’s stock worth $573,000 after buying an additional 10,223 shares in the last quarter. Finally, Rathbone Brothers increased its position in Skechers USA by 14.7% in the fourth quarter. Rathbone Brothers now owns 27,940 shares of the company’s stock worth $737,000 after buying an additional 3,580 shares in the last quarter.

Shares of Skechers USA (NYSE:SKX) traded down 2.19% during midday trading on Monday, hitting $27.20. The stock had a trading volume of 212,533 shares. Skechers USA has a 52 week low of $19.51 and a 52 week high of $54.53. The stock’s 50-day moving average price is $29.07 and its 200 day moving average price is $38.09. The company has a market cap of $4.25 billion and a price-to-earnings ratio of 18.80.

In other news, Director Thomas Walsh sold 1,500 shares of the stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $30.05, for a total transaction of $45,075.00. Following the completion of the transaction, the director now directly owns 10,500 shares of the company’s stock, valued at approximately $315,525. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Michael Greenberg sold 150,000 shares of the stock in a transaction that occurred on Wednesday, December 16th. The shares were sold at an average price of $30.66, for a total transaction of $4,599,000.00. Following the transaction, the president now directly owns 461,679 shares of the company’s stock, valued at $14,155,078.14. The disclosure for this sale can be found here.

Skechers U.Skechers U.S.A., Inc. is a designer and marketer of Skechers-branded lifestyle footwear for men, women and children, and performance footwear for men and women under the Skechers GO brand name. The Company’s brands are sold through department and specialty stores, athletic and independent retailers, boutiques and internet retailers. In addition to wholesale distribution, its footwear is available at its e-commerce site and its own retail stores. As of February 15, 2015, the Company owned and operated 119 concept stores, 146 factory outlet stores and 98 warehouse outlet stores in the United States, and 51 concept stores, 33 factory outlet stores, and three warehouse outlet stores internationally.

12 Month Chart for NYSE:SKX

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