NEW YORK (

TheStreet

) -- Shares of

Skechers USA

(NYSE:

SKX

) were gapping up Thursday morning with an open price 14.5% higher than Wednesday's closing price. The stock closed at $14.30 Wednesday and opened today's trading at $16.37.

The average volume for Skechers USA has been 1.1 million shares per day over the past 30 days. Skechers USA has a market cap of $576.1 million and is part of the

consumer goods

sector and

consumer non-durables

industry. Shares are down 28.5% year to date as of the close of trading on Wednesday.

Skechers U.S.A., Inc. engages in the design, development, marketing, and distribution of footwear for men, women, and children in the United States and internationally. The company has a P/E ratio of eight, equal to the average consumer non-durables industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Skechers USA as a

hold

. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow. You can view the full

Skechers USA Ratings Report

.

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