Steven Madden, Ltd. (SHOO) Given a $39.00 Price Target at Jefferies Group LLC
Jefferies Group LLC set a $39.00 price objective on Steven Madden, Ltd. (NASDAQ:SHOO) in a report issued on Tuesday. The brokerage currently has a hold rating on the textile maker’s stock. Jefferies Group also issued estimates for Steven Madden’s Q4 2017 earnings at $0.49 EPS.
Other research analysts also recently issued reports about the company. BidaskClub raised Steven Madden from a hold rating to a buy rating in a report on Wednesday, July 5th. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the stock a buy rating in a report on Wednesday, August 9th. B. Riley reissued a buy rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, July 28th. Piper Jaffray Companies reissued a buy rating and issued a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, July 26th. Finally, Zacks Investment Research raised Steven Madden from a hold rating to a buy rating and set a $48.00 price objective on the stock in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $43.96.
Shares of Steven Madden (NASDAQ SHOO) traded down 1.987% during trading on Tuesday, hitting $38.225. The stock had a trading volume of 595,181 shares. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 18.404 and a beta of 0.51. The stock has a 50 day moving average price of $42.12 and a 200-day moving average price of $40.23. Steven Madden has a one year low of $33.50 and a one year high of $44.40.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. The firm had revenue of $441.19 million for the quarter, compared to the consensus estimate of $441.03 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 EPS. On average, equities research analysts predict that Steven Madden will post $2.25 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the stock. Chicago Equity Partners LLC lifted its stake in Steven Madden by 59.1% in the third quarter. Chicago Equity Partners LLC now owns 22,275 shares of the textile maker’s stock valued at $965,000 after purchasing an additional 8,275 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Steven Madden by 1,756.3% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 309,456 shares of the textile maker’s stock worth $13,399,000 after acquiring an additional 292,785 shares in the last quarter. Kornitzer Capital Management Inc. KS lifted its position in shares of 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 acquiring an additional 1,795 shares in the last quarter. Parametrica Management Ltd purchased a new stake in shares of Steven Madden during the third quarter worth $351,000. Finally, Fortaleza Asset Management Inc. purchased a new stake in shares of Steven Madden during the third quarter worth $158,000. Institutional investors and hedge funds 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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