Steven Madden, Ltd. (NASDAQ:SHOO) Receives Average Rating of “Buy” from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has received a consensus recommendation of “Buy” from the twelve research firms that are covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $43.32.

SHOO has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research report on Tuesday, June 27th. Susquehanna Bancshares Inc upped their price target on shares of Steven Madden from $42.00 to $44.00 and gave the company a “positive” rating in a research report on Tuesday, April 25th. Citigroup Inc. upped their price target on shares of Steven Madden from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, April 25th. Canaccord Genuity restated a “buy” rating and issued a $45.00 price target on shares of Steven Madden in a research report on Wednesday, April 19th. Finally, Piper Jaffray Companies set a $41.00 price target on shares of Steven Madden and gave the company a “buy” rating in a research report on Wednesday, May 31st.

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In other news, insider Karla Frieders sold 60,000 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $38.99, for a total value of $2,339,400.00. Following the completion of the sale, the insider now owns 148,216 shares in the company, valued at $5,778,941.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Amelia Varela sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $39.51, for a total transaction of $987,750.00. Following the sale, the president now owns 89,099 shares of the company’s stock, valued at approximately $3,520,301.49. The disclosure for this sale can be found here. Insiders sold 122,740 shares of company stock worth $4,832,677 over the last ninety days. Insiders own 2.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SHOO. Amalgamated Bank increased its position in Steven Madden by 0.4% in the second quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock valued at $324,000 after buying an additional 32 shares during the last quarter. Jennison Associates LLC increased its position in Steven Madden by 0.4% in the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after buying an additional 44 shares during the last quarter. First Mercantile Trust Co. increased 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 valued at $143,000 after buying an additional 60 shares during the last quarter. Louisiana State Employees Retirement System increased its position in Steven Madden by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the textile maker’s stock valued at $848,000 after buying an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Steven Madden by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 19,118 shares of the textile maker’s stock valued at $763,000 after buying an additional 189 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Steven Madden (NASDAQ:SHOO) opened at 43.00 on Friday. The firm’s 50-day moving average price is $40.21 and its 200 day moving average price is $38.12. The stock has a market cap of $2.54 billion, a P/E ratio of 20.70 and a beta of 0.53. Steven Madden has a 52-week low of $32.30 and a 52-week high of $43.15.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06. The firm had revenue of $374.15 million during the quarter, compared to the consensus estimate of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.42 EPS. Equities analysts predict that Steven Madden will post $2.25 earnings per share for the current year.

About Steven Madden

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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