Wedbush reissued their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a research report sent to investors on Tuesday. They currently have a $53.00 price target on the textile maker’s stock.

A number of other research firms have also weighed in on SHOO. Susquehanna Bancshares reissued a buy rating and issued a $48.00 target price on shares of Steven Madden in a research note on Monday, October 23rd. Zacks Investment Research lowered Steven Madden from a buy rating to a hold rating in a research note on Wednesday, September 20th. ValuEngine lowered Steven Madden from a buy rating to a hold rating in a research note on Thursday, October 5th. Buckingham Research lowered their target price on Steven Madden from $40.00 to $39.00 and set a neutral rating for the company in a research note on Wednesday, November 1st. Finally, Canaccord Genuity set a $47.00 target price on Steven Madden and gave the company a buy rating in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. Steven Madden presently has an average rating of Buy and a consensus price target of $45.86.

Steven Madden (NASDAQ SHOO) traded up $0.80 during midday trading on Tuesday, hitting $45.80. The stock had a trading volume of 618,600 shares, compared to its average volume of 502,254. Steven Madden has a 12 month low of $33.50 and a 12 month high of $46.35. The company has a market cap of $2,659.65, a price-to-earnings ratio of 20.09, a PEG ratio of 1.70 and a beta of 0.52.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.77. Steven Madden had a return on equity of 17.21% and a net margin of 8.04%. The company had revenue of $441.19 million during the quarter, compared to analyst estimates of $441.03 million. During the same quarter in the previous year, the company posted $0.74 EPS. Steven Madden’s revenue for the quarter was up 8.0% on a year-over-year basis. research analysts expect that Steven Madden will post 2.21 EPS for the current year.

In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total transaction of $76,100.00. Following the transaction, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Awadhesh K. Sinha sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the transaction, the chief operating officer now owns 63,383 shares in the company, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 34,000 shares of company stock worth $1,460,100. 2.06% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the business. Amalgamated Bank grew its holdings in shares of Steven Madden by 0.4% during the 2nd quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock worth $324,000 after acquiring an additional 32 shares during the period. Jennison Associates LLC grew its holdings in shares of Steven Madden by 0.4% during the 2nd quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock worth $473,000 after acquiring an additional 44 shares during the period. First Mercantile Trust Co. grew its holdings in shares of Steven Madden by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after acquiring an additional 60 shares during the period. CS Mckee LP grew its holdings in shares of Steven Madden by 0.5% during the 2nd quarter. CS Mckee LP now owns 22,175 shares of the textile maker’s stock worth $886,000 after acquiring an additional 100 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Steven Madden by 1.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 19,118 shares of the textile maker’s stock worth $763,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 92.98% of the company’s stock.

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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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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