Steven Madden, Ltd. (NASDAQ:SHOO)‘s stock had its “hold” rating reaffirmed by equities research analysts at Jefferies Group LLC in a note issued to investors on Friday. They currently have a $37.00 target price on the textile maker’s stock. Jefferies Group LLC’s price objective suggests a potential downside of 4.39% from the company’s previous close.
A number of other research firms have also issued reports on SHOO. Citigroup Inc. boosted their target price on shares of Steven Madden from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, April 25th. Canaccord Genuity reissued a “buy” rating and set a $45.00 target price on shares of Steven Madden in a research note on Wednesday, April 19th. Zacks Investment Research lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. Piper Jaffray Companies raised shares of Steven Madden from a “neutral” rating to an “overweight” rating and set a $41.00 target price for the company in a research note on Thursday, February 23rd. Finally, B. Riley reissued a “buy” rating and set a $45.00 target price on shares of Steven Madden in a research note on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $41.00.
Shares of Steven Madden (SHOO) opened at 38.70 on Friday. The firm has a market cap of $2.30 billion, a P/E ratio of 19.40 and a beta of 0.39. Steven Madden has a 52 week low of $32.14 and a 52 week high of $40.75. The stock’s 50 day moving average is $38.37 and its 200 day moving average is $37.25.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Friday, April 21st. The textile maker reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.04. The business had revenue of $366.40 million during the quarter, compared to the consensus estimate of $359.52 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.17%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, equities research analysts predict that Steven Madden will post $2.19 earnings per share for the current fiscal year.
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In other news, insider Karla Frieders sold 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $38.99, for a total value of $2,339,400.00. Following the completion of the sale, the insider now directly owns 148,216 shares of the company’s stock, valued at approximately $5,778,941.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Amelia Varela sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $39.51, for a total transaction of $987,750.00. Following the completion of the sale, the president now directly owns 89,099 shares of the company’s stock, valued at $3,520,301.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,194 shares of company stock valued at $4,734,057. Company insiders own 2.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of Steven Madden by 15.1% in the fourth quarter. Envestnet Asset Management Inc. now owns 5,823 shares of the textile maker’s stock worth $208,000 after buying an additional 765 shares in the last quarter. Capstone Investment Advisors LLC bought a new stake in shares of Steven Madden during the fourth quarter worth $625,000. Menta Capital LLC raised its stake in shares of Steven Madden by 792.7% in the fourth quarter. Menta Capital LLC now owns 73,988 shares of the textile maker’s stock worth $2,645,000 after buying an additional 65,700 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of Steven Madden by 5.9% in the fourth quarter. New York State Teachers Retirement System now owns 64,622 shares of the textile maker’s stock worth $2,310,000 after buying an additional 3,600 shares in the last quarter. Finally, Pacad Investment Ltd. bought a new stake in shares of Steven Madden during the fourth quarter worth $154,000. 92.85% of the stock is owned by institutional investors.
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.
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