ValuEngine upgraded shares of Steven Madden, Ltd. (NASDAQ:SHOO) from a hold rating to a buy rating in a research report sent to investors on Friday.

Other equities research analysts have also recently issued research reports about the stock. Canaccord Genuity set a $45.00 price target on shares of Steven Madden and gave the stock a buy rating in a research report on Friday, May 26th. Jefferies Group LLC set a $37.00 price target on shares of Steven Madden and gave the stock a hold rating in a research report on Saturday, May 13th. Zacks Investment Research upgraded shares of Steven Madden from a hold rating to a buy rating and set a $43.00 price target for the company in a research report on Tuesday, June 20th. B. Riley restated a buy rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, July 28th. Finally, Piper Jaffray Companies set a $41.00 price objective on shares of Steven Madden and gave the company a buy rating in a report on Wednesday, June 14th. Five equities 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 target price of $43.96.

Shares of Steven Madden (NASDAQ SHOO) traded up 0.71% during mid-day trading on Friday, reaching $42.70. 310,117 shares of the company were exchanged. The stock has a market capitalization of $2.53 billion, a P/E ratio of 20.56 and a beta of 0.51. The firm has a 50-day moving average price of $41.27 and a 200 day moving average price of $38.84. Steven Madden has a 12 month low of $32.30 and a 12 month high of $43.80.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.45 by $0.06. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The company had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. During the same quarter in the previous year, the company earned $0.42 EPS. Steven Madden’s revenue was up 15.0% on a year-over-year basis. Equities research analysts anticipate that Steven Madden will post $2.25 EPS for the current fiscal year.

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In other news, insider Karla Frieders sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the transaction, the insider now owns 83,216 shares in the company, valued at $3,212,969.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rose Peabody Lynch sold 2,240 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $39.32, for a total transaction of $88,076.80. Following the completion of the transaction, the director now owns 4,754 shares of the company’s stock, valued at approximately $186,927.28. The disclosure for this sale can be found here. Insiders sold 62,740 shares of company stock valued at $2,493,277 in the last quarter. Corporate insiders own 2.06% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. Louisiana State Employees Retirement System boosted its position in Steven Madden by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the textile maker’s stock valued at $848,000 after buying an additional 100 shares during the period. Glen Harbor Capital Management LLC boosted its position in Steven Madden by 17.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,114 shares of the textile maker’s stock valued at $159,000 after buying an additional 612 shares during the period. Jennison Associates LLC bought a new position in Steven Madden during the first quarter valued at $455,000. Great West Life Assurance Co. Can boosted its position in Steven Madden by 5.1% in the first quarter. Great West Life Assurance Co. Can now owns 76,496 shares of the textile maker’s stock valued at $2,944,000 after buying an additional 3,696 shares during the period. Finally, Eqis Capital Management Inc. boosted its position in Steven Madden by 46.5% in the first quarter. Eqis Capital Management Inc. now owns 10,046 shares of the textile maker’s stock valued at $387,000 after buying an additional 3,191 shares during the period. Institutional investors own 91.37% 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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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