Steven Madden, Ltd. (SHOO) Upgraded by BidaskClub to Buy
Steven Madden, Ltd. (NASDAQ:SHOO) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.
Several other equities analysts have also commented on the company. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, June 27th. Susquehanna Bancshares Inc upped their target price on Steven Madden from $42.00 to $44.00 and gave the company a “positive” rating in a report on Tuesday, April 25th. Citigroup Inc. upped their target price on Steven Madden from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, April 25th. Canaccord Genuity reaffirmed a “buy” rating and set a $45.00 target price on shares of Steven Madden in a report on Wednesday, April 19th. Finally, Piper Jaffray Companies set a $41.00 target price on Steven Madden and gave the company a “buy” rating in a report on Wednesday, May 31st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $43.32.
Shares of Steven Madden (NASDAQ SHOO) traded down 0.70% during mid-day trading on Thursday, hitting $42.30. The company had a trading volume of 62,714 shares. The stock has a market cap of $2.50 billion, a price-to-earnings ratio of 20.37 and a beta of 0.53. Steven Madden has a 52-week low of $32.30 and a 52-week high of $43.15. The stock’s 50-day moving average is $39.93 and its 200-day moving average is $38.03.
Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The company 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 revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. Equities analysts forecast that Steven Madden will post $2.25 earnings per share for the current year.
In other news, President Amelia Varela sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $39.51, for a total transaction of $987,750.00. Following the completion of the transaction, the president now directly owns 89,099 shares in the company, valued at $3,520,301.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Arvind Dharia sold 20,000 shares of the business’s stock in a transaction that occurred on 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 owns 66,662 shares of the company’s stock, valued at $2,681,145.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 122,740 shares of company stock valued at $4,832,677. Insiders own 2.20% of the company’s stock.
Several institutional investors have recently modified their holdings of SHOO. Elkfork Partners LLC increased its position in shares of 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 in the last quarter. TrimTabs Asset Management LLC increased its position in shares of 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 in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Steven Madden during the second quarter valued at about $127,000. Meadow Creek Investment Management LLC increased its position in shares of 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 in the last quarter. Finally, First Mercantile Trust Co. increased its position in shares of Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.
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.
Receive News & Ratings for Steven Madden Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden Ltd. and related companies with Analyst Ratings Network's FREE daily email newsletter.