Steven Madden (SHOO) Given Buy Rating at Canaccord Genuity

Canaccord Genuity reiterated their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a report issued on Tuesday morning. Canaccord Genuity currently has a $50.00 price target on the textile maker’s stock.

SHOO has been the topic of a number of other research reports. Piper Jaffray Companies set a $51.00 price target on shares of Steven Madden and gave the company a buy rating in a research report on Monday, January 8th. Telsey Advisory Group dropped their price target on shares of Steven Madden from $45.00 to $44.00 and set an outperform rating on the stock in a research report on Wednesday, November 1st. Citigroup reissued a buy rating and issued a $56.00 price target on shares of Steven Madden in a research report on Tuesday, January 16th. Jefferies Group set a $39.00 price target on shares of Steven Madden and gave the company a hold rating in a research report on Tuesday, October 31st. Finally, B. Riley set a $47.00 price target on shares of Steven Madden and gave the company a buy rating in a research report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Steven Madden currently has an average rating of Buy and a consensus target price of $49.13.

Steven Madden (NASDAQ:SHOO) opened at $42.80 on Tuesday. Steven Madden has a 52-week low of $35.55 and a 52-week high of $49.28. The company has a market cap of $2,523.71, a P/E ratio of 20.28, a PEG ratio of 1.52 and a beta of 0.41.

In related news, President Amelia Varela sold 25,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the transaction, the president now owns 113,007 shares of the company’s stock, valued at $4,834,439.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Awadhesh K. Sinha sold 6,500 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $45.03, for a total transaction of $292,695.00. Following the transaction, the chief operating officer now directly owns 63,383 shares in the company, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. Insiders have sold 32,000 shares of company stock worth $1,384,000 in the last ninety days. 2.06% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its position in Steven Madden by 9.1% during the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after acquiring an additional 415 shares during the period. Louisiana State Employees Retirement System boosted its stake in Steven Madden by 6.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the textile maker’s stock worth $1,069,000 after buying an additional 1,300 shares in the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake in Steven Madden by 2.6% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 60,973 shares of the textile maker’s stock worth $2,641,000 after buying an additional 1,548 shares in the last quarter. Aperio Group LLC boosted its stake in Steven Madden by 8.2% during the third quarter. Aperio Group LLC now owns 23,227 shares of the textile maker’s stock worth $1,006,000 after buying an additional 1,760 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its stake in Steven Madden by 1.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 187,990 shares of the textile maker’s stock worth $8,140,000 after buying an additional 1,795 shares in the last quarter. 93.12% of the stock is currently owned by institutional investors and hedge funds.

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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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