Steven Madden, Ltd. (SHOO) Given a $41.00 Price Target by Piper Jaffray Companies Analysts

Piper Jaffray Companies set a $41.00 price target on Steven Madden, Ltd. (NASDAQ:SHOO) in a report published on Wednesday. The firm currently has a buy rating on the textile maker’s stock.

SHOO has been the subject of several other reports. Citigroup Inc. reaffirmed a focus list rating on shares of Steven Madden in a research note on Tuesday, March 7th. Zacks Investment Research raised Steven Madden from a sell rating to a hold rating in a research note on Friday, March 3rd. Susquehanna Bancshares Inc upped their price objective on Steven Madden from $42.00 to $44.00 and gave the company a positive rating in a research note on Tuesday, April 25th. Canaccord Genuity upped their price objective on Steven Madden from $45.00 to $46.00 and gave the company a buy rating in a research note on Monday, June 5th. Finally, Morgan Stanley upped their price objective on Steven Madden from $37.00 to $38.00 and gave the company an equal weight rating in a research note on Tuesday, June 6th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $41.00.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO) opened at 38.70 on Wednesday. The stock has a market capitalization of $2.30 billion, a PE ratio of 19.40 and a beta of 0.39. Steven Madden has a 12 month low of $32.14 and a 12 month high of $40.75. The company’s 50-day moving average price is $38.37 and its 200 day moving average price is $37.25.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Friday, April 21st. The textile maker reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The firm had revenue of $366.40 million during the quarter, compared to the consensus estimate of $359.52 million. Steven Madden had a return on equity of 17.17% and a net margin of 8.17%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. On average, analysts forecast that Steven Madden will post $2.19 earnings per share for the current fiscal year.

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In other news, Director Rose Peabody Lynch sold 2,240 shares of the stock in a transaction that occurred on Wednesday, June 14th. The stock was 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 directly owns 4,754 shares of the company’s stock, valued at approximately $186,927.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard P. Randall sold 2,454 shares of the stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $38.48, for a total value of $94,429.92. Following the transaction, the director now directly owns 24,551 shares of the company’s stock, valued at $944,722.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 120,194 shares of company stock valued at $4,734,057. Company insiders own 2.20% of the company’s stock.

Several institutional investors have recently modified their holdings of SHOO. Public Employees Retirement System of Ohio increased its position in shares of Steven Madden by 9.7% in the first quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock worth $176,000 after buying an additional 403 shares during the period. Macquarie Group Ltd. increased its position in shares of Steven Madden by 7.6% in the first quarter. Macquarie Group Ltd. now owns 1,935,826 shares of the textile maker’s stock worth $74,626,000 after buying an additional 136,220 shares during the period. Gotham Asset Management LLC acquired a new position in shares of Steven Madden during the first quarter worth about $277,000. State Street Corp increased its position in shares of Steven Madden by 7.1% in the first quarter. State Street Corp now owns 1,430,412 shares of the textile maker’s stock worth $55,143,000 after buying an additional 94,475 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Steven Madden by 28.8% in the first quarter. Bank of America Corp DE now owns 316,974 shares of the textile maker’s stock worth $12,218,000 after buying an additional 70,890 shares during the period. 92.85% of the stock is owned by institutional investors and hedge funds.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SHOO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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