Steven Madden Rating Increased to Buy at BB&T Corp. (SHOO)
Steven Madden (NASDAQ:SHOO) was upgraded by investment analysts at BB&T Corp. from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, TheFlyOnTheWall.com reports.
A number of other firms have also recently commented on SHOO. Analysts at B. Riley reiterated a “buy” rating on shares of Steven Madden in a research note to investors on Monday, January 13th. They now have a $43.00 price target on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Steven Madden from $41.00 to $38.00 in a research note to investors on Monday, January 13th. Finally, analysts at Piper Jaffray downgraded shares of Steven Madden from an “overweight” rating to a “neutral” rating in a research note to investors on Wednesday, January 8th. They now have a $36.00 price target on the stock, down previously from $37.00. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $47.11.
Shares of Steven Madden (NASDAQ:SHOO) traded up 0.45% during mid-day trading on Tuesday, hitting $33.31. 780,581 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’s 50-day moving average is $35.52 and its 200-day moving average is $35.82. The company has a market cap of $2.258 billion and a price-to-earnings ratio of 17.13.
Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, October 31st. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the 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 in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. Analysts expect that Steven Madden will post $1.98 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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