Steven Madden (NASDAQ:SHOO) has been given a $50.00 price target by analysts at Canaccord Genuity in a report issued on Sunday, January 7th. The brokerage presently has a “buy” rating on the textile maker’s stock. Canaccord Genuity’s price target points to a potential upside of 11.23% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Thursday, September 28th. Piper Jaffray Companies set a $43.00 price objective on Steven Madden and gave the stock a “buy” rating in a research report on Tuesday, October 31st. B. Riley set a $47.00 price objective on Steven Madden and gave the stock a “buy” rating in a research report on Thursday, October 26th. Susquehanna Bancshares restated a “buy” rating and set a $48.00 price target on shares of Steven Madden in a research note on Monday, October 23rd. Finally, Buckingham Research upgraded Steven Madden from a “neutral” rating to a “buy” rating and upped their price target for the stock from $39.00 to $48.00 in a research note on Wednesday, November 29th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $49.13.
Steven Madden (NASDAQ SHOO) traded down $1.25 during midday trading on Friday, reaching $44.95. The company had a trading volume of 437,543 shares, compared to its average volume of 450,671. The firm has a market cap of $2,730.57 and a PE ratio of 21.30. Steven Madden has a 12 month low of $33.53 and a 12 month high of $49.28.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates 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 analysts’ expectations of $441.03 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. research analysts forecast that Steven Madden will post 2.23 EPS for the current fiscal year.
In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of Steven Madden stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the sale, the director now owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Awadhesh K. Sinha sold 6,500 shares of Steven Madden stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the sale, the chief operating officer now directly owns 63,383 shares in the company, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,000 shares of company stock worth $1,460,100. Corporate insiders own 2.06% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Monarch Partners Asset Management LLC acquired a new stake in shares of Steven Madden during the 4th quarter valued at approximately $9,270,000. Boston Partners lifted its position in shares of Steven Madden by 9.1% during the 4th quarter. Boston Partners now owns 1,222,193 shares of the textile maker’s stock valued at $57,076,000 after acquiring an additional 102,310 shares during the period. Victory Capital Management Inc. lifted its position in shares of Steven Madden by 21.6% during the 4th quarter. Victory Capital Management Inc. now owns 779,807 shares of the textile maker’s stock valued at $36,417,000 after acquiring an additional 138,380 shares during the period. Moody Aldrich Partners LLC lifted its position in shares of Steven Madden by 26.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 34,332 shares of the textile maker’s stock valued at $1,603,000 after acquiring an additional 7,152 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its position in shares of Steven Madden by 4.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 430,107 shares of the textile maker’s stock valued at $20,086,000 after acquiring an additional 18,621 shares during the period. Institutional investors own 92.92% 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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