Steven Madden, Ltd. (SHOO) PT Set at $43.00 by Piper Jaffray Companies
Steven Madden, Ltd. (NASDAQ:SHOO) has been given a $43.00 price target by stock analysts at Piper Jaffray Companies in a report released on Tuesday. The brokerage currently has a “buy” rating on the textile maker’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 10.26% from the stock’s previous close.
Several other equities analysts also recently weighed in on SHOO. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. B. Riley reiterated a “buy” rating and set a $47.00 target price on shares of Steven Madden in a research report on Tuesday, August 8th. Telsey Advisory Group increased their target price on Steven Madden from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $39.00 target price (up from $37.00) on shares of Steven Madden in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $43.96.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The firm had revenue of $441.19 million for the quarter, compared to the consensus estimate of $441.03 million. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year.
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A number of large investors have recently made changes to their positions in SHOO. 1060 Capital LLC acquired a new stake in shares of Steven Madden in the second quarter valued at about $24,372,000. Jennison Associates LLC grew its stake in shares of Steven Madden by 0.4% in the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after buying an additional 44 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of Steven Madden by 63.4% in the second quarter. Prudential Financial Inc. now owns 255,446 shares of the textile maker’s stock valued at $10,205,000 after buying an additional 99,150 shares in the last quarter. Royce & Associates LP grew its stake in shares of Steven Madden by 14.3% in the second quarter. Royce & Associates LP now owns 667,480 shares of the textile maker’s stock valued at $26,666,000 after buying an additional 83,552 shares in the last quarter. Finally, Aperio Group LLC grew its stake in shares of Steven Madden by 12.1% in the second quarter. Aperio Group LLC now owns 21,467 shares of the textile maker’s stock valued at $858,000 after buying an additional 2,316 shares in the last quarter. Institutional investors own 91.15% 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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