Steven Madden Lowered to Neutral at Piper Jaffray (SHOO)
Steven Madden (NASDAQ:SHOO) was downgraded by equities research analysts at Piper Jaffray from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $36.00 price target on the stock, down from their previous price target of $37.00. Piper Jaffray’s price objective points to a potential upside of 6.01% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Ned Davis Research downgraded shares of Steven Madden from a “buy” rating to a “neutral” rating in a research note to investors on Monday, December 30th. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Steven Madden in a research note to investors on Monday, December 9th. They now have a $41.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $48.00.
Shares of Steven Madden (NASDAQ:SHOO) traded down 3.82% during mid-day trading on Wednesday, hitting $33.96. 2,107,199 shares of the company’s stock traded hands. Steven Madden has a 52-week low of $27.3333 and a 52-week high of $39.48. The stock has a 50-day moving average of $36.77 and a 200-day moving average of $35.70. The company has a market cap of $2.302 billion and a P/E ratio of 18.24.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, October 31st. The company reported $0.66 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.66. The company had revenue of $394.00 million for the quarter, compared to the consensus estimate of $384.50 million. During the same quarter last year, the company posted $0.95 earnings per share. Steven Madden’s revenue was up 10.6% compared to the same quarter last year. Analysts expect that Steven Madden will post $2.00 EPS for the current fiscal year.
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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