Steven Madden (SHOO) Stock Rating Reaffirmed by Citigroup
Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating restated by research analysts at Citigroup in a research report issued to clients and investors on Tuesday, The Fly reports. They currently have a $56.00 price target on the textile maker’s stock. Citigroup’s target price suggests a potential upside of 17.52% from the company’s previous close.
Several other equities analysts have also commented on the company. Zacks Investment Research upgraded Steven Madden from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. Wedbush restated a “buy” rating and set a $53.00 price target on shares of Steven Madden in a research note on Tuesday, December 19th. Jefferies Group set a $39.00 price target on Steven Madden and gave the company a “hold” rating in a research note on Tuesday, October 31st. Susquehanna Bancshares restated a “buy” rating and set a $48.00 price target on shares of Steven Madden in a research note on Monday, October 23rd. Finally, Telsey Advisory Group cut their price target on Steven Madden from $45.00 to $44.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Steven Madden presently has a consensus rating of “Buy” and an average price target of $49.13.
Steven Madden (NASDAQ:SHOO) remained flat at $$47.65 during trading hours on Tuesday. The company’s stock had a trading volume of 385,100 shares, compared to its average volume of 449,191. Steven Madden has a 1-year low of $33.50 and a 1-year high of $48.80. The firm has a market capitalization of $2,820.00, a P/E ratio of 22.69, a P/E/G ratio of 1.73 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The business had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. During the same period last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. research analysts expect that Steven Madden will post 2.23 EPS for the current year.
In other Steven Madden news, COO Awadhesh K. Sinha sold 6,500 shares of Steven Madden 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 transaction, the chief operating officer now owns 63,383 shares in the company, valued at $2,854,136.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard P. Randall sold 2,000 shares of Steven Madden stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total value of $76,100.00. Following the completion of the transaction, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The disclosure for this sale can be found here. Insiders sold 34,000 shares of company stock worth $1,460,100 in the last quarter. 2.06% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. grew its stake in Steven Madden by 8.6% in the third quarter. Macquarie Group Ltd. now owns 2,443,422 shares of the textile maker’s stock valued at $105,800,000 after purchasing an additional 193,391 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Steven Madden by 2.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock valued at $73,248,000 after purchasing an additional 37,264 shares during the last quarter. Eagle Asset Management Inc. grew its stake in Steven Madden by 0.5% in the third quarter. Eagle Asset Management Inc. now owns 1,641,855 shares of the textile maker’s stock valued at $70,681,000 after purchasing an additional 8,679 shares during the last quarter. State Street Corp grew its stake in Steven Madden by 5.2% in the second quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock valued at $60,144,000 after purchasing an additional 75,022 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Steven Madden by 2.0% in the second quarter. Royal Bank of Canada now owns 1,177,884 shares of the textile maker’s stock valued at $47,056,000 after purchasing an additional 23,334 shares during the last quarter. Institutional investors own 92.98% of the company’s stock.
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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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