Skechers Trading Volume Surges 51.95% to $505 Million, Ranks 169th in Market

On May 29, 2025, Skechers (SKX) saw a significant increase in trading volume, with a turnover of $505 million, marking a 51.95% rise from the previous day. This surge placed Skechers at the 169th position in the day's stock market rankings. The stock price of Skechers rose by 0.08%.

TD Cowen has downgraded Skechers to a Hold rating, citing the closure of the window for potential competing acquisition offers following 3G Capital's announced deal. The analysts noted that the $63 per share buyout offer from 3G Capital represents 13.5 times TD Cowen’s fiscal year 2027 earnings-per-share estimate and 6 times the estimated EV/EBITDA for the same period. These figures align with the firm’s prior price target but fall short of its bullish case.

TD Cowen highlighted that the sector valuation has increased by 24% from April lows and is now in line with the 10 and 5-year median P/E ratios. The firm described the deal as the largest in the Softlines Retail sector history, surpassing the $2.5 billion Reebok acquisition. The deal structure includes an option for shareholders to receive either $63 in cash or $57 in cash plus one LLC unit, with proration.

Insiders, who owned roughly 14% of the shares pre-deal, are set to collect over $1.3 billion in proceeds. Management could maintain a sizable ownership position depending on shareholder elections. Looking ahead, TD Cowen anticipates 3G pursuing margin expansion through cost-cutting and efficiencies, which could potentially lead to Skechers going public again. However, near-term concerns include capital expenditure as a percentage of sales reaching all-time highs and a business model heavily reliant on distribution growth and working capital needs.