Zacks Investment Research upgraded shares of Steven Madden, Ltd. (NASDAQ:SHOO) from a hold rating to a buy rating in a research report report published on Friday morning. They currently have $45.00 target price on the textile maker’s stock.
According to Zacks, “Steven Madden, Ltd. designs, sources, markets and sells fashion-forward footwear brands for women, men and children. They distribute products through their retail stores, their e-commerce websites, catalogs and department and specialty store “
Several other analysts also recently commented on SHOO. Jefferies Group LLC set a $37.00 target price on Steven Madden and gave the company a hold rating in a research note on Saturday, May 13th. B. Riley reiterated a buy rating and set a $47.00 target price on shares of Steven Madden in a research note on Wednesday, August 2nd. BidaskClub upgraded Steven Madden from a hold rating to a buy rating in a research note on Thursday, August 10th. Telsey Advisory Group increased their target price on Steven Madden from $41.00 to $45.00 and gave the company an outperform rating in a research note on Wednesday, August 2nd. Finally, Canaccord Genuity set a $47.00 target price on Steven Madden and gave the company a buy rating in a research note on Wednesday, August 2nd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $43.79.
Steven Madden (SHOO) traded up 2.33% during midday trading on Friday, reaching $41.70. The company’s stock had a trading volume of 535,155 shares. Steven Madden has a 52-week low of $32.30 and a 52-week high of $43.80. The firm has a 50 day moving average of $40.81 and a 200 day moving average of $38.60. The firm has a market cap of $2.47 billion, a P/E ratio of 20.08 and a beta of 0.53.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The company had revenue of $374.15 million for the quarter, compared to the consensus estimate of $355.22 million. During the same quarter in the prior year, the business posted $0.42 EPS. The firm’s quarterly revenue was up 15.0% compared to the same quarter last year. Analysts anticipate that Steven Madden will post $2.25 earnings per share for the current fiscal year.
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In other news, insider Karla Frieders sold 5,000 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $38.61, for a total value of $193,050.00. Following the transaction, the insider now directly owns 83,216 shares in the company, valued at approximately $3,212,969.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rose Peabody Lynch sold 2,240 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $39.32, for a total value of $88,076.80. Following the completion of the transaction, the director now owns 4,754 shares in the company, valued at $186,927.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,740 shares of company stock worth $4,832,677. Company insiders own 2.06% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SHOO. 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 worth $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 worth $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 worth $117,000 after buying an additional 1,424 shares during the period. Meeder Asset Management Inc. purchased a new position in Steven Madden during the second quarter worth about $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 worth $131,000 after buying an additional 504 shares during the period. Hedge funds and other institutional investors own 92.44% of the company’s stock.
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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