Steven Madden (NASDAQ:SHOO) had its price objective cut by stock analysts at Buckingham Research to $36.00 in a research report issued on Wednesday. The firm presently has a “buy” rating on the textile maker’s stock. Buckingham Research’s price objective points to a potential upside of 24.22% from the company’s current price.
A number of other research analysts also recently commented on SHOO. Loop Capital set a $36.00 target price on shares of Steven Madden and gave the company a “hold” rating in a research report on Wednesday, August 8th. Zacks Investment Research downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Wedbush downgraded shares of Steven Madden from an “outperform” rating to a “neutral” rating and increased their target price for the company from $34.00 to $36.67 in a research report on Wednesday, July 11th. They noted that the move was a valuation call. Canaccord Genuity set a $39.33 target price on shares of Steven Madden and gave the company a “buy” rating in a research report on Monday, July 30th. Finally, Macquarie began coverage on shares of Steven Madden in a research report on Wednesday, June 27th. They issued an “outperform” rating on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $35.94.
NASDAQ SHOO opened at $28.98 on Wednesday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.85 and a beta of 0.53. Steven Madden has a 12 month low of $24.83 and a 12 month high of $39.30.
Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, July 31st. The textile maker reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.02. The firm had revenue of $395.80 million for the quarter, compared to the consensus estimate of $390.57 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.01%. The company’s revenue was up 5.8% on a year-over-year basis. During the same period last year, the firm posted $0.34 EPS. As a group, research analysts predict that Steven Madden will post 2.68 earnings per share for the current fiscal year.
In other Steven Madden news, insider Karla Frieders sold 7,000 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $56.89, for a total transaction of $398,230.00. Following the transaction, the insider now directly owns 75,280 shares of the company’s stock, valued at approximately $4,282,679.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Awadhesh K. Sinha sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $57.50, for a total transaction of $230,000.00. Following the transaction, the chief operating officer now directly owns 57,845 shares in the company, valued at $3,326,087.50. The disclosure for this sale can be found here. Insiders have sold a total of 13,500 shares of company stock worth $771,405 over the last three months. 1.77% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of SHOO. NumerixS Investment Technologies Inc grew its position in Steven Madden by 81.8% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 2,000 shares of the textile maker’s stock worth $108,000 after purchasing an additional 900 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Steven Madden in the second quarter valued at about $113,000. WINTON GROUP Ltd purchased a new stake in shares of Steven Madden in the second quarter valued at about $213,000. CIBC Asset Management Inc purchased a new stake in shares of Steven Madden in the second quarter valued at about $226,000. Finally, Strs Ohio boosted its holdings in shares of Steven Madden by 27.0% in the second quarter. Strs Ohio now owns 4,700 shares of the textile maker’s stock valued at $249,000 after acquiring an additional 1,000 shares in the last quarter. 95.88% of the stock is currently owned by institutional investors.
About Steven Madden
Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Report, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, FREEBIRD by Steven, Stevies, B Brian Atwood, Blondo, Kate Spade, and Avec Les Filles brands, as well as private label footwear.
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