Canaccord Genuity set a $47.00 price target on Steven Madden, Ltd. (NASDAQ:SHOO) in a research report sent to investors on Tuesday. The firm currently has a buy rating on the textile maker’s stock.

Several other equities analysts have also issued reports on the company. Zacks Investment Research raised Steven Madden from a hold rating to a buy rating and set a $44.00 target price for the company in a report on Tuesday, June 27th. Susquehanna Bancshares Inc upped their target price on Steven Madden from $42.00 to $44.00 and gave the company a positive rating in a report on Tuesday, April 25th. Citigroup Inc. increased their price objective on Steven Madden from $44.00 to $45.00 and gave the company a buy rating in a report on Tuesday, April 25th. Piper Jaffray Companies set a $41.00 price objective on Steven Madden and gave the company a buy rating in a report on Wednesday, May 31st. Finally, BidaskClub raised Steven Madden from a hold rating to a buy rating in a report on Wednesday, July 5th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $43.71.

Steven Madden (NASDAQ SHOO) opened at 42.75 on Tuesday. The company has a market capitalization of $2.53 billion, a P/E ratio of 20.58 and a beta of 0.53. Steven Madden has a 52 week low of $32.30 and a 52 week high of $43.85. The stock’s 50 day moving average price is $40.45 and its 200 day moving average price is $38.28.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $374.15 million during the quarter, compared to analyst estimates of $355.22 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. Steven Madden’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. Analysts anticipate that Steven Madden will post $2.25 earnings per share for the current year.

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In related news, insider Karla Frieders sold 60,000 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $38.99, for a total value of $2,339,400.00. Following the sale, the insider now owns 148,216 shares in the company, valued at $5,778,941.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Rose Peabody Lynch sold 2,240 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $39.32, for a total value of $88,076.80. Following the completion of the sale, the director now owns 4,754 shares in the company, valued at approximately $186,927.28. The disclosure for this sale can be found here. Insiders sold 122,740 shares of company stock worth $4,832,677 in the last quarter. 2.20% of the stock is currently owned by company insiders.

Large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its stake in shares of Steven Madden by 8.5% in the first quarter. BNP Paribas Arbitrage SA now owns 12,505 shares of the textile maker’s stock worth $482,000 after buying an additional 977 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Steven Madden by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 753,863 shares of the textile maker’s stock worth $29,061,000 after buying an additional 45,928 shares during the period. Elkfork Partners LLC increased its stake in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock worth $103,000 after buying an additional 396 shares during the period. Princeton Alpha Management LP increased its stake in shares of Steven Madden by 16.8% in the first quarter. Princeton Alpha Management LP now owns 10,076 shares of the textile maker’s stock worth $388,000 after buying an additional 1,446 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Steven Madden by 31.3% in the first quarter. First Trust Advisors LP now owns 43,895 shares of the textile maker’s stock worth $1,692,000 after buying an additional 10,468 shares during the period. Institutional investors own 92.44% of the company’s stock.

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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