Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned a $33.00 price objective by equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Tuesday. The brokerage currently has a “hold” rating on the stock. Piper Jaffray Companies’ price target would indicate a potential downside of 11.41% from the company’s current price.
Other analysts have also recently issued research reports about the stock. B. Riley reaffirmed a “neutral” rating and set a $40.00 target price on shares of Steven Madden in a research note on Monday, November 7th. Jefferies Group reiterated a “buy” rating and set a $40.00 price target on shares of Steven Madden in a report on Thursday, November 3rd. Zacks Investment Research lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, December 8th. Canaccord Genuity reiterated a “buy” rating and set a $40.00 price target on shares of Steven Madden in a report on Monday, October 31st. Finally, Wells Fargo & Company began coverage on shares of Steven Madden in a report on Tuesday, December 6th. They set a “market perform” rating and a $39.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $38.00.
Steven Madden (NASDAQ:SHOO) traded down 3.49% during midday trading on Tuesday, hitting $35.95. The stock had a trading volume of 539,765 shares. The company’s 50 day moving average is $37.52 and its 200 day moving average is $35.61. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 18.26 and a beta of 0.54. Steven Madden has a 1-year low of $27.80 and a 1-year high of $40.55.
Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, November 1st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.04. The firm had revenue of $408.40 million for the quarter, compared to analysts’ expectations of $404.58 million. Steven Madden had a net margin of 8.11% and a return on equity of 16.26%. The company’s revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 earnings per share. On average, equities analysts anticipate that Steven Madden will post $2.02 earnings per share for the current fiscal year.
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In other news, CFO Arvind Dharia sold 15,000 shares of the company’s stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $40.06, for a total transaction of $600,900.00. Following the transaction, the chief financial officer now owns 86,662 shares in the company, valued at $3,471,679.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard P. Randall sold 1,750 shares of the company’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $35.26, for a total transaction of $61,705.00. Following the transaction, the director now owns 24,675 shares in the company, valued at approximately $870,040.50. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. FMR LLC raised its position in shares of Steven Madden by 27.5% in the second quarter. FMR LLC now owns 4,526,261 shares of the company’s stock valued at $154,708,000 after buying an additional 974,945 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Steven Madden by 2.1% in the second quarter. Vanguard Group Inc. now owns 4,422,145 shares of the company’s stock valued at $151,149,000 after buying an additional 89,780 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of Steven Madden by 6.7% in the third quarter. BlackRock Fund Advisors now owns 3,990,793 shares of the company’s stock valued at $137,922,000 after buying an additional 249,238 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in Steven Madden by 5.2% in the second quarter. Lord Abbett & CO. LLC now owns 2,137,734 shares of the company’s stock valued at $73,068,000 after buying an additional 105,170 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Steven Madden by 3.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 2,098,852 shares of the company’s stock valued at $72,536,000 after buying an additional 73,948 shares during the last quarter. Hedge funds and other institutional investors own 93.26% of the company’s stock.
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