Steven Madden (SHOO) Stock Rating Reaffirmed by Citigroup

Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating reiterated by research analysts at Citigroup in a research report issued on Tuesday. They presently have a $56.00 price objective on the textile maker’s stock. Citigroup’s price objective would suggest a potential upside of 17.52% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Susquehanna Bancshares reissued a “buy” rating and issued a $48.00 target price on shares of Steven Madden in a report on Monday, October 23rd. Zacks Investment Research lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Telsey Advisory Group reissued an “outperform” rating and issued a $51.00 target price (up from $44.00) on shares of Steven Madden in a report on Tuesday, January 9th. ValuEngine lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Finally, Buckingham Research cut their target price on shares of Steven Madden from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Steven Madden presently has an average rating of “Buy” and a consensus price target of $49.13.

Shares of Steven Madden (SHOO) remained flat at $$47.65 on Tuesday. 385,100 shares of the company were exchanged, compared to its average volume of 449,191. Steven Madden has a 12 month low of $33.50 and a 12 month high of $48.80. The firm has a market capitalization of $2,820.00, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.73 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million during the quarter, compared to analyst estimates of $441.03 million. During the same period last year, the firm posted $0.74 EPS. The company’s revenue was up 8.0% on a year-over-year basis. sell-side analysts anticipate that Steven Madden will post 2.23 earnings per share for the current year.

In related news, COO Awadhesh K. Sinha sold 6,500 shares of the firm’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the sale, the chief operating officer now directly owns 63,383 shares in the company, valued at $2,854,136.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Amelia Varela sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $42.78, for a total value of $1,069,500.00. Following the completion of the sale, the president now owns 113,007 shares of the company’s stock, valued at $4,834,439.46. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,000 shares of company stock valued at $1,460,100. 2.06% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Riverhead Capital Management LLC lifted 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 last quarter. Fortaleza Asset Management Inc. bought a new stake in Steven Madden in the third quarter worth $158,000. First Quadrant L P CA bought a new stake in Steven Madden in the third quarter worth $191,000. Public Employees Retirement System of Ohio lifted its position in Steven Madden by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after buying an additional 415 shares during the last quarter. Finally, Worth Venture Partners LLC bought a new stake in shares of Steven Madden during the third quarter worth $205,000. Institutional investors own 92.98% of the company’s stock.

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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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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