Steven Madden Coverage Initiated at Wunderlich (SHOO)
Wunderlich began coverage on shares of Steven Madden (NASDAQ:SHOO) in a research note issued on Thursday. The firm set a “buy” rating and a $42.00 price target on the stock. Wunderlich’s price target points to a potential upside of 25.60% from the stock’s previous close.
Shares of Steven Madden (NASDAQ:SHOO) opened at 33.46 on Thursday. Steven Madden has a 52-week low of $30.20 and a 52-week high of $39.48. The stock has a 50-day moving average of $33.42 and a 200-day moving average of $34.16. The company has a market cap of $2.184 billion and a price-to-earnings ratio of 16.85.
Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.01. The company had revenue of $295.70 million for the quarter, compared to the consensus estimate of $313.50 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that Steven Madden will post $2.02 EPS for the current fiscal year.
In other Steven Madden news, Director Peter Migliorini sold 3,147 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $34.33, for a total value of $108,036.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee upgraded shares of Steven Madden from a “neutral” rating to a “buy” rating in a research note on Friday, August 15th. They now have a $40.00 price target on the stock, up previously from $34.00. Separately, analysts at Citigroup Inc. downgraded shares of Steven Madden from a “buy” rating to a “neutral” rating in a research note on Tuesday, August 12th. They now have a $35.00 price target on the stock, down previously from $40.00. Finally, analysts at Wedbush cut their price target on shares of Steven Madden from $36.00 to $34.00 in a research note on Friday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Steven Madden currently has a consensus rating of “Buy” and a consensus price target of $39.90.
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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