Steven Madden (NASDAQ:SHOO) had its price target cut by research analysts at B. Riley from $44.00 to $36.00 in a report issued on Thursday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the textile maker’s stock. B. Riley’s price objective would suggest a potential upside of 61.29% from the company’s current price.

Several other research analysts have also recently weighed in on the company. BidaskClub cut Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 18th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $35.00 price objective (down from $40.00) on shares of Steven Madden in a research report on Monday, February 24th. ValuEngine raised Steven Madden from a “strong sell” rating to a “sell” rating in a research report on Friday, February 28th. Citigroup reduced their price objective on Steven Madden from $41.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Finally, Loop Capital reduced their price objective on Steven Madden from to in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $36.33.

NASDAQ SHOO traded down $0.66 on Thursday, reaching $22.32. The company had a trading volume of 158,527 shares, compared to its average volume of 1,284,291. Steven Madden has a 52 week low of $16.38 and a 52 week high of $44.79. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.90 and a beta of 0.96. The stock’s 50 day moving average is $31.69 and its 200-day moving average is $37.83.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, February 27th. The textile maker reported $0.39 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.39. Steven Madden had a return on equity of 19.44% and a net margin of 7.99%. The firm had revenue of $414.91 million during the quarter, compared to analysts’ expectations of $424.96 million. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue was up 1.1% on a year-over-year basis. As a group, equities research analysts predict that Steven Madden will post 1.79 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of SHOO. Great Diamond Partners LLC bought a new stake in Steven Madden in the fourth quarter valued at approximately $26,000. Archer Investment Corp bought a new stake in Steven Madden in the fourth quarter valued at approximately $33,000. C M Bidwell & Associates Ltd. bought a new stake in Steven Madden in the fourth quarter valued at approximately $50,000. NumerixS Investment Technologies Inc bought a new stake in Steven Madden in the fourth quarter valued at approximately $60,000. Finally, Tower Research Capital LLC TRC raised its stake in Steven Madden by 1,276.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,945 shares of the textile maker’s stock valued at $127,000 after buying an additional 2,731 shares during the period. 94.80% of the stock is owned by hedge funds and other institutional investors.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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