Steven Madden, Ltd. (NASDAQ:SHOO)‘s stock had its “hold” rating restated by investment analysts at Jefferies Group LLC in a research note issued on Wednesday, August 2nd. They currently have a $39.00 price target on the textile maker’s stock, up from their prior price target of $37.00. Jefferies Group LLC’s price target would suggest a potential downside of 9.30% from the stock’s previous close. Jefferies Group also issued estimates for Steven Madden’s FY2017 earnings at $2.24 EPS and FY2018 earnings at $2.36 EPS.
A number of other analysts have also weighed in on SHOO. B. Riley reissued a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Friday, July 28th. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the company a “buy” rating in a report on Wednesday, August 2nd. Telsey Advisory Group upped their target price on Steven Madden from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies reiterated a “buy” rating and issued a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 26th. Finally, BidaskClub downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $43.32.
Shares of Steven Madden (NASDAQ:SHOO) traded up 1.30% during mid-day trading on Wednesday, reaching $43.00. 495,723 shares of the company were exchanged. The firm has a 50-day moving average price of $40.21 and a 200 day moving average price of $38.12. The stock has a market capitalization of $2.54 billion, a P/E ratio of 20.70 and a beta of 0.53. Steven Madden has a 12 month low of $32.30 and a 12 month high of $43.15.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $374.15 million during the quarter, compared to analyst estimates of $355.22 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Steven Madden will post $2.25 EPS for the current fiscal year.
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In other Steven Madden news, CFO Arvind Dharia sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $40.22, for a total value of $804,400.00. Following the transaction, the chief financial officer now directly owns 66,662 shares of the company’s stock, valued at $2,681,145.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Karla Frieders sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the transaction, the insider now directly owns 83,216 shares in the company, valued at approximately $3,212,969.76. The disclosure for this sale can be found here. Insiders sold 122,740 shares of company stock worth $4,832,677 over the last three months. Insiders own 2.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Riverhead Capital Management LLC increased its position in Steven Madden by 97.1% in the second 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 during the period. Elkfork Partners LLC increased its position in Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock valued at $103,000 after buying an additional 396 shares during the period. TrimTabs Asset Management LLC increased its position in Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock valued at $117,000 after buying an additional 1,424 shares during the period. Meeder Asset Management Inc. bought a new position in Steven Madden during the second quarter valued at approximately $127,000. Finally, Meadow Creek Investment Management LLC increased its position in Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock valued at $131,000 after buying an additional 504 shares during the period. 91.16% of the stock is currently owned by hedge funds and other institutional investors.
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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