Buckingham Research Lowers Steven Madden, Ltd. (SHOO) Price Target to $39.00
Steven Madden, Ltd. (NASDAQ:SHOO) had its target price lowered by Buckingham Research from $40.00 to $39.00 in a report issued on Wednesday morning. The brokerage currently has a neutral rating on the textile maker’s stock.
A number of other research firms also recently commented on SHOO. Susquehanna Bancshares Inc reaffirmed a buy rating and set a $48.00 price objective on shares of Steven Madden in a report on Monday, October 23rd. Zacks Investment Research downgraded shares of Steven Madden from a buy rating to a hold rating in a report on Wednesday, September 20th. Piper Jaffray Companies reaffirmed a buy rating and set a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 26th. Canaccord Genuity set a $47.00 price objective on shares of Steven Madden and gave the stock a buy rating in a report on Tuesday, August 15th. Finally, Telsey Advisory Group raised their price objective on shares of Steven Madden from $41.00 to $45.00 and gave the stock an outperform rating in a report on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. Steven Madden has a consensus rating of Hold and an average target price of $43.96.
Shares of Steven Madden (NASDAQ SHOO) traded up $0.50 during trading on Wednesday, reaching $38.40. 969,843 shares of the company’s stock were exchanged, compared to its average volume of 526,781. Steven Madden has a 12-month low of $33.50 and a 12-month high of $44.40. The company has a market cap of $2,282.92, a P/E ratio of 17.14, a PEG ratio of 1.40 and a beta of 0.48.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. The company had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same period last year, the firm earned $0.74 EPS. equities research analysts anticipate that Steven Madden will post 2.22 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in SHOO. Riverhead Capital Management LLC lifted its holdings in Steven Madden by 97.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after purchasing an additional 1,262 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Steven Madden during the 2nd quarter valued at about $127,000. First Mercantile Trust Co. lifted its holdings in Steven Madden by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after purchasing an additional 60 shares during the last quarter. Fortaleza Asset Management Inc. bought a new position in Steven Madden during the 3rd quarter valued at about $158,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Steven Madden by 9.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock valued at $176,000 after purchasing an additional 403 shares during the last quarter. 91.15% of the stock is owned by hedge funds and other institutional investors.
About Steven Madden
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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