Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating restated by Wedbush in a research report issued on Tuesday, December 19th. They presently have a $53.00 price objective on the textile maker’s stock. Wedbush’s price objective would indicate a potential upside of 9.73% from the stock’s previous close. Wedbush also issued estimates for Steven Madden’s FY2018 earnings at $2.80 EPS.
A number of other research firms have also recently commented on SHOO. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $48.00 price target on shares of Steven Madden in a report on Monday, October 23rd. Zacks Investment Research cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. ValuEngine cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Buckingham Research lowered their price target on shares of Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Finally, Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a report on Tuesday, October 24th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Steven Madden presently has a consensus rating of “Buy” and an average target price of $48.21.
Steven Madden (SHOO) traded up $0.70 during trading on Tuesday, hitting $48.30. 459,546 shares of the company’s stock traded hands, compared to its average volume of 541,086. Steven Madden has a 1 year low of $33.50 and a 1 year high of $48.80. The company has a market cap of $2,850.00, a PE ratio of 23.00, a P/E/G ratio of 1.81 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $441.19 million for the quarter, compared to analysts’ expectations of $441.03 million. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 EPS. research analysts anticipate that Steven Madden will post 2.21 earnings per share for the current fiscal year.
In other news, President Amelia Varela sold 25,000 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $4,834,439.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard P. Randall sold 2,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the transaction, the director now owns 22,809 shares of the company’s stock, valued at $867,882.45. The disclosure for this sale can be found here. Insiders sold a total of 34,000 shares of company stock valued at $1,460,100 over the last quarter. 2.06% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in SHOO. Riverhead Capital Management LLC grew its position in Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after acquiring an additional 1,262 shares in the last quarter. First Mercantile Trust Co. grew its position in Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after acquiring an additional 60 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in Steven Madden in the third quarter worth $158,000. IFP Advisors Inc grew its position in Steven Madden by 3,804.2% in the second quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock worth $184,000 after acquiring an additional 4,489 shares in the last quarter. Finally, First Quadrant L P CA purchased a new position in Steven Madden in the third quarter worth $191,000. Institutional investors own 92.98% of the company’s stock.
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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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