Steven Madden (NASDAQ:SHOO) has been given a $46.00 target price by Wells Fargo & Co in a report released on Thursday. The firm currently has a “hold” rating on the textile maker’s stock. Wells Fargo & Co’s target price suggests a potential downside of 3.36% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Piper Jaffray Companies set a $43.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Tuesday, October 31st. B. Riley set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Thursday, October 26th. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Tuesday, October 24th. Susquehanna Bancshares reissued a “buy” rating and set a $48.00 price objective on shares of Steven Madden in a report on Monday, October 23rd. Finally, Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Friday, September 15th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Steven Madden currently has a consensus rating of “Buy” and an average price target of $48.21.
Shares of Steven Madden (NASDAQ:SHOO) traded up $0.40 during mid-day trading on Thursday, reaching $47.60. The company’s stock had a trading volume of 317,200 shares, compared to its average volume of 496,500. Steven Madden has a 1-year low of $33.50 and a 1-year high of $47.75. The stock has a market cap of $2,800.00, a price-to-earnings ratio of 22.67, a PEG ratio of 1.81 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The business had revenue of $441.19 million during the quarter, compared to analyst estimates of $441.03 million. During the same quarter in the prior year, the business posted $0.74 EPS. Steven Madden’s revenue for the quarter was up 8.0% compared to the same quarter last year. equities research analysts expect that Steven Madden will post 2.21 EPS for the current year.
In related news, Director Richard P. Randall sold 2,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total value of $76,100.00. Following the completion of the transaction, the director now owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Amelia Varela sold 25,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the transaction, the president now directly owns 113,007 shares of the company’s stock, valued at approximately $4,834,439.46. The disclosure for this sale can be found here. Insiders have sold a total of 34,000 shares of company stock valued at $1,460,100 in the last three months. Insiders own 2.06% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its holdings in shares of Steven Madden by 97.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after acquiring an additional 1,262 shares during the last quarter. Fortaleza Asset Management Inc. bought a new position in shares of Steven Madden in the 3rd quarter valued at about $158,000. First Quadrant L P CA bought a new position in shares of Steven Madden in the 3rd quarter valued at about $191,000. Worth Venture Partners LLC bought a new position in shares of Steven Madden in the 3rd quarter valued at about $205,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Steven Madden by 9.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after acquiring an additional 415 shares during the last quarter. 92.98% of the stock is owned by hedge funds and other institutional investors.
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Steven Madden Company Profile
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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