Steven Madden, Ltd. (SHOO) Receives $44.05 Consensus PT from Brokerages

Steven Madden, Ltd. (NASDAQ:SHOO) has been given an average recommendation of “Hold” by the fourteen research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $43.86.

Several analysts have issued reports on SHOO shares. ValuEngine upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, September 1st. Piper Jaffray Companies reiterated a “buy” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Thursday, August 3rd. BidaskClub upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Morgan Stanley increased their target price on shares of Steven Madden from $38.00 to $41.50 and gave the stock an “equal weight” rating in a research note on Monday, August 7th.

Several institutional investors have recently bought and sold shares of SHOO. Riverhead Capital Management LLC raised its position in shares of Steven Madden by 97.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,262 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Steven Madden during the 2nd quarter valued at $127,000. First Mercantile Trust Co. raised its position in shares of Steven Madden by 1.7% during the 2nd 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 in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Steven Madden during the 3rd quarter valued at $158,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of Steven Madden by 9.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock valued at $176,000 after buying an additional 403 shares in the last quarter. Hedge funds and other institutional investors own 91.15% of the company’s stock.

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Shares of Steven Madden (NASDAQ:SHOO) traded down 8.88% on Thursday, reaching $39.00. 1,644,013 shares of the company’s stock traded hands. The firm has a market cap of $2.31 billion, a P/E ratio of 18.78 and a beta of 0.51. The company’s 50-day moving average price is $42.12 and its 200 day moving average price is $40.23. Steven Madden has a one year low of $33.50 and a one year high of $44.40.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Monday, October 30th. The textile maker reported $0.77 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Steven Madden had a net margin of 7.76% and a return on equity of 15.64%. The business had revenue of $441.19 million for the quarter, compared to analysts’ expectations of $441.03 million. During the same period in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. On average, equities analysts forecast that Steven Madden will post $2.25 EPS for the current fiscal 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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