Steven Madden Price Target Cut to $40.00 (SHOO)
Equities research analysts at Brean Capital reduced their price target on shares of Steven Madden (NASDAQ:SHOO) from $58.00 to $40.00 in a research note issued to investors on Thursday, StockRatingsNetwork reports. The firm currently has a “buy” rating on the stock. Brean Capital’s price objective points to a potential upside of 14.16% from the company’s current price.
A number of other analysts have also recently weighed in on SHOO. Analysts at Ned Davis Research upgraded shares of Steven Madden from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 30th. Separately, analysts at CL King downgraded shares of Steven Madden from a “buy” rating to a “neutral” rating in a research note to investors on Friday, September 27th. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Steven Madden in a research note to investors on Tuesday, September 24th. They now have a $59.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $55.00.
Shares of Steven Madden (NASDAQ:SHOO) traded up 1.39% on Thursday, hitting $35.04. 659,391 shares of the company’s stock traded hands. 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 $53.86 and its 200-day moving average is $48.78. The company has a market cap of $2.423 billion and a price-to-earnings ratio of 18.74.
Steven Madden (NASDAQ:SHOO) last announced its earnings results 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 in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis.
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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