Steven Madden (SHOO) Given a $51.00 Price Target by Piper Jaffray Companies Analysts
Steven Madden (NASDAQ:SHOO) has been assigned a $51.00 target price by investment analysts at Piper Jaffray Companies in a report released on Monday. The brokerage currently has a “buy” rating on the textile maker’s stock. Piper Jaffray Companies’ target price suggests a potential upside of 10.27% from the stock’s current price.
Other equities research analysts also recently issued research reports about the company. Buckingham Research dropped their price objective on Steven Madden from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. B. Riley set a $47.00 price objective on Steven Madden and gave the company a “buy” rating in a report on Thursday, October 26th. Canaccord Genuity set a $47.00 price objective on Steven Madden and gave the company a “buy” rating in a report on Tuesday, October 24th. Susquehanna Bancshares reiterated a “buy” rating and issued a $48.00 price objective on shares of Steven Madden in a report on Monday, October 23rd. Finally, Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Friday, September 22nd. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $46.86.
Steven Madden (NASDAQ:SHOO) traded up $0.60 during midday trading on Monday, reaching $46.25. The company had a trading volume of 456,800 shares, compared to its average volume of 574,750. The company has a market capitalization of $2,733.53, a P/E ratio of 21.92, a PEG ratio of 1.81 and a beta of 0.51. Steven Madden has a fifty-two week low of $33.50 and a fifty-two week high of $47.55.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting analysts’ consensus estimates of $0.77. The business had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.74 earnings per share. sell-side analysts expect that Steven Madden will post 2.21 EPS for the current fiscal year.
In other Steven Madden news, COO Awadhesh K. Sinha sold 6,500 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Amelia Varela sold 25,000 shares of the stock in a transaction dated 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. Insiders sold 34,000 shares of company stock valued at $1,460,100 over the last 90 days. Corporate insiders own 2.06% of the company’s stock.
Several institutional investors have recently made changes to their positions in the business. GSA Capital Partners LLP increased its holdings in shares of Steven Madden by 69.6% in the third quarter. GSA Capital Partners LLP now owns 13,991 shares of the textile maker’s stock worth $606,000 after acquiring an additional 5,740 shares in the last quarter. Algert Global LLC acquired a new position in shares of Steven Madden during the third quarter worth about $455,000. Sterling Capital Management LLC boosted its position in shares of Steven Madden by 15.8% during the third quarter. Sterling Capital Management LLC now owns 43,886 shares of the textile maker’s stock worth $1,900,000 after buying an additional 5,984 shares during the period. California Public Employees Retirement System boosted its position in shares of Steven Madden by 4.9% during the third quarter. California Public Employees Retirement System now owns 133,655 shares of the textile maker’s stock worth $5,787,000 after buying an additional 6,255 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Steven Madden during the third quarter worth about $639,000. Institutional investors own 92.98% 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.
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