Steven Madden Stock Rating Lowered by CL King (SHOO)
Steven Madden (NASDAQ:SHOO) was downgraded by equities research analysts at CL King from a “buy” rating to a “neutral” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports.
Steven Madden (NASDAQ:SHOO) traded down 1.44% on Friday, hitting $53.55. The stock had a trading volume of 117,487 shares. Steven Madden has a one year low of $40.30 and a one year high of $56.60. The stock’s 50-day moving average is $54.08 and its 200-day moving average is $49.39. The company has a market cap of $2.469 billion and a P/E ratio of 19.65.
Steven Madden (NASDAQ:SHOO) last released its earnings data on Thursday, August 1st. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.64 by $0.01. The company had revenue of $297.60 million for the quarter, compared to the consensus estimate of $307.48 million. During the same quarter last year, the company posted $0.61 earnings per share. Steven Madden’s revenue was up 3.1% compared to the same quarter last year.
Several other analysts have also recently commented on the stock. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Steven Madden (NASDAQ:SHOO) in a research note to investors on Tuesday. They now have a $59.00 price target on the stock. Separately, analysts at Telsey Advisory Group raised their price target on shares of Steven Madden (NASDAQ:SHOO) from $51.00 to $56.00 in a research note to investors on Tuesday. They now have a “not rated” rating on the stock. Finally, analysts at Wedbush downgraded shares of Steven Madden (NASDAQ:SHOO) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, September 17th. They now have a $55.00 price target on the stock. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Steven Madden has a consensus rating of “Buy” and an average target price of $57.00.
Steven Madden, Ltd. designs, sources, markets and sells name brand and private label footwear for women, men and children and name brand and private label fashion handbags and accessories.
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