Steven Madden Ltd. (NASDAQ:SHOO) Receives $38.60 Average Price Target from Analysts
Shares of Steven Madden Ltd. (NASDAQ:SHOO) have been given an average rating of “Hold” by the twelve research firms that are currently covering the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $38.60.
SHOO has been the subject of several recent analyst reports. Canaccord Genuity restated a “buy” rating and issued a $40.00 target price on shares of Steven Madden in a research report on Sunday, September 11th. BB&T Corp. reiterated a “hold” rating on shares of Steven Madden in a report on Saturday, June 11th. Zacks Investment Research upgraded shares of Steven Madden from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 16th. Buckingham Research cut shares of Steven Madden from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $40.00 to $36.00 in a report on Monday, July 18th. Finally, Susquehanna started coverage on shares of Steven Madden in a report on Friday, August 12th. They issued a “positive” rating and a $42.00 price objective for the company.
Shares of Steven Madden (NASDAQ:SHOO) opened at 34.84 on Monday. The stock has a market capitalization of $2.13 billion, a PE ratio of 18.46 and a beta of 0.90. Steven Madden has a 1-year low of $27.80 and a 1-year high of $38.76. The firm has a 50-day moving average of $35.07 and a 200 day moving average of $34.95.
Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Steven Madden had a net margin of 8.02% and a return on equity of 16.36%. The firm earned $325.40 million during the quarter, compared to analysts’ expectations of $329.54 million. During the same quarter in the prior year, the firm earned $0.40 EPS. Steven Madden’s quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts anticipate that Steven Madden will post $1.99 earnings per share for the current fiscal year.
In related news, Director Richard P. Randall sold 3,125 shares of the company’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $35.33, for a total value of $110,406.25. Following the completion of the sale, the director now owns 26,425 shares in the company, valued at approximately $933,595.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the stock. Macquarie Group Ltd. raised its position in Steven Madden by 3.0% in the second quarter. Macquarie Group Ltd. now owns 1,557,644 shares of the company’s stock valued at $53,240,000 after buying an additional 45,593 shares in the last quarter. Mason Street Advisors LLC bought a new position in Steven Madden during the second quarter valued at $372,000. Royal Bank of Canada raised its position in Steven Madden by 7.1% in the second quarter. Royal Bank of Canada now owns 989,916 shares of the company’s stock valued at $33,836,000 after buying an additional 65,307 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Steven Madden by 18.5% in the second quarter. Public Employees Retirement System of Ohio now owns 3,550 shares of the company’s stock valued at $121,000 after buying an additional 555 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Steven Madden by 5.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 277,142 shares of the company’s stock valued at $9,473,000 after buying an additional 15,314 shares in the last quarter. Institutional investors and hedge funds own 93.25% of the company’s stock.
Steven Madden Company Profile
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