Steven Madden (SHOO) PT Set at $50.00 by Canaccord Genuity

Canaccord Genuity set a $50.00 target price on Steven Madden (NASDAQ:SHOO) in a research note released on Sunday. The firm currently has a buy rating on the textile maker’s stock.

Several other brokerages have also recently commented on SHOO. BidaskClub upgraded shares of Steven Madden from a hold rating to a buy rating in a research report on Wednesday, December 27th. Piper Jaffray Companies set a $51.00 price target on shares of Steven Madden and gave the stock a buy rating in a research report on Monday. Zacks Investment Research upgraded shares of Steven Madden from a sell rating to a hold rating in a research report on Friday, December 22nd. Wedbush reiterated a buy rating and issued a $53.00 price target on shares of Steven Madden in a research report on Tuesday, December 19th. Finally, ValuEngine cut shares of Steven Madden from a buy rating to a hold rating in a research report on Thursday, October 5th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $48.41.

Shares of Steven Madden (SHOO) opened at $47.60 on Friday. Steven Madden has a 1 year low of $33.50 and a 1 year high of $47.75. The company has a market cap of $2,800.00, a PE ratio of 22.67, a price-to-earnings-growth 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 EPS for the quarter, hitting the consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The firm had revenue of $441.19 million for the quarter, compared to analysts’ expectations of $441.03 million. During the same period in the previous year, the business earned $0.74 earnings per share. Steven Madden’s revenue for the quarter was up 8.0% compared to the same quarter last year. sell-side analysts expect that Steven Madden will post 2.21 EPS for the current fiscal year.

In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total transaction of $76,100.00. Following the sale, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $42.78, for a total value of $1,069,500.00. Following the transaction, the president now directly owns 113,007 shares in the company, valued at approximately $4,834,439.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,000 shares of company stock worth $1,460,100. Corporate insiders own 2.06% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP grew its stake in Steven Madden by 69.6% during the 3rd quarter. GSA Capital Partners LLP now owns 13,991 shares of the textile maker’s stock valued at $606,000 after acquiring an additional 5,740 shares in the last quarter. Algert Global LLC purchased a new position in Steven Madden during the 3rd quarter valued at about $455,000. Sterling Capital Management LLC grew its stake in Steven Madden by 15.8% during the 3rd quarter. Sterling Capital Management LLC now owns 43,886 shares of the textile maker’s stock valued at $1,900,000 after acquiring an additional 5,984 shares in the last quarter. California Public Employees Retirement System grew its stake in Steven Madden by 4.9% during the 3rd quarter. California Public Employees Retirement System now owns 133,655 shares of the textile maker’s stock valued at $5,787,000 after acquiring an additional 6,255 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Steven Madden during the 3rd quarter valued at about $639,000. 92.98% of the stock is currently owned by 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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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