BidaskClub cut shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a report issued on Thursday.

A number of other research analysts have also commented on the stock. Citigroup reiterated a buy rating and issued a $56.00 price target on shares of Steven Madden in a research note on Tuesday, January 16th. Wells Fargo & Co set a $46.00 price target on shares of Steven Madden and gave the company a hold rating in a research note on Thursday, January 11th. Zacks Investment Research upgraded shares of Steven Madden from a hold rating to a buy rating and set a $52.00 price target on the stock in a research note on Wednesday, January 10th. B. Riley reiterated a buy rating and issued a $52.00 price target (up previously from $47.00) on shares of Steven Madden in a research note on Tuesday, January 9th. Finally, Telsey Advisory Group reiterated an outperform rating and issued a $51.00 price target (up previously from $44.00) on shares of Steven Madden in a research note on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Steven Madden presently has a consensus rating of Buy and a consensus price target of $49.13.

Steven Madden (NASDAQ:SHOO) opened at $48.80 on Thursday. Steven Madden has a 52 week low of $33.50 and a 52 week high of $48.90. The company has a market cap of $2,880.00, a PE ratio of 23.24, a P/E/G ratio of 1.77 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million for the quarter, compared to analyst estimates of $441.03 million. During the same quarter in the prior year, the business earned $0.74 EPS. Steven Madden’s quarterly revenue was up 8.0% on a year-over-year basis. equities research analysts expect that Steven Madden will post 2.23 earnings per share for the current year.

In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the transaction, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Awadhesh K. Sinha sold 6,500 shares of the stock in a transaction that occurred 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 owns 63,383 shares in the company, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,000 shares of company stock worth $1,460,100. Company insiders own 2.06% of the company’s stock.

Several large investors have recently made changes to their positions in SHOO. Macquarie Group Ltd. lifted its holdings in shares of Steven Madden by 8.6% during the 3rd quarter. Macquarie Group Ltd. now owns 2,443,422 shares of the textile maker’s stock worth $105,800,000 after acquiring an additional 193,391 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Steven Madden by 2.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock worth $73,248,000 after acquiring an additional 37,264 shares during the period. Eagle Asset Management Inc. lifted its holdings in shares of Steven Madden by 0.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,641,855 shares of the textile maker’s stock worth $70,681,000 after acquiring an additional 8,679 shares during the period. State Street Corp lifted its holdings in shares of Steven Madden by 5.2% during the 2nd quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock worth $60,144,000 after acquiring an additional 75,022 shares during the period. Finally, Royal Bank of Canada lifted its holdings in shares of Steven Madden by 2.0% during the 2nd quarter. Royal Bank of Canada now owns 1,177,884 shares of the textile maker’s stock worth $47,056,000 after acquiring an additional 23,334 shares during the period. Hedge funds and other institutional investors own 92.98% of the company’s stock.

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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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