BidaskClub upgraded shares of Steven Madden (NASDAQ:SHOO) from a hold rating to a buy rating in a research report released on Wednesday morning.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Steven Madden from a sell rating to a hold rating in a research report on Friday, December 22nd. Wedbush reiterated a buy rating and set a $53.00 price objective on shares of Steven Madden in a research report on Tuesday, December 19th. Susquehanna Bancshares reiterated a buy rating and set a $50.00 price objective on shares of Steven Madden in a research report on Monday, December 4th. Canaccord Genuity set a $47.00 price objective on shares of Steven Madden and gave the company a buy rating in a research report on Thursday, November 30th. Finally, Buckingham Research upgraded shares of Steven Madden from a neutral rating to a buy rating and lifted their price objective for the company from $39.00 to $48.00 in a research report on Wednesday, November 29th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $45.86.

Shares of Steven Madden (NASDAQ:SHOO) opened at $46.80 on Wednesday. The stock has a market cap of $2,748.30, a P/E ratio of 22.18, a PEG ratio of 1.75 and a beta of 0.52. Steven Madden has a 1 year low of $33.50 and a 1 year high of $47.35.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $441.19 million for the quarter, compared to analysts’ expectations of $441.03 million. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.74 earnings per share. equities analysts expect that Steven Madden will post 2.21 earnings per share for the current fiscal year.

In other Steven Madden news, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the completion of the transaction, the president now directly owns 113,007 shares of the company’s stock, valued at $4,834,439.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Awadhesh K. Sinha sold 6,500 shares of Steven Madden stock in a transaction on Monday, December 18th. The stock was sold at an average price of $45.03, for a total transaction of $292,695.00. Following the transaction, the chief operating officer now directly owns 63,383 shares of the company’s stock, valued at $2,854,136.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,000 shares of company stock valued at $1,460,100. 2.06% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank boosted its stake in Steven Madden by 0.4% during the second quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock worth $324,000 after buying an additional 32 shares during the period. Jennison Associates LLC boosted its stake in Steven Madden by 0.4% during the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock worth $473,000 after buying an additional 44 shares during the period. CS Mckee LP boosted its stake in Steven Madden by 0.5% during the second quarter. CS Mckee LP now owns 22,175 shares of the textile maker’s stock worth $886,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. boosted its stake in Steven Madden by 1.0% during the second quarter. PNC Financial Services Group Inc. now owns 19,118 shares of the textile maker’s stock worth $763,000 after buying an additional 189 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in Steven Madden by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 53,280 shares of the textile maker’s stock worth $2,129,000 after buying an additional 217 shares during the period. 92.98% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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