Steven Madden, Ltd. (NASDAQ:SHOO) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

A number of other analysts have also weighed in on the company. Citigroup Inc. reissued a “focus list” rating on shares of Steven Madden in a research note on Tuesday, March 7th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Wednesday, March 15th. Jefferies Group LLC reissued a “hold” rating and set a $37.00 price objective on shares of Steven Madden in a research note on Monday, April 3rd. Susquehanna Bancshares Inc reissued a “positive” rating and set a $42.00 price objective on shares of Steven Madden in a research note on Monday, April 17th. Finally, Canaccord Genuity reissued a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a research note on Wednesday, April 19th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $41.18.

Shares of Steven Madden (SHOO) traded down 1.25% during midday trading on Wednesday, hitting $39.50. 274,198 shares of the company traded hands. Steven Madden has a 52 week low of $32.30 and a 52 week high of $40.75. The stock has a market capitalization of $2.35 billion, a PE ratio of 19.80 and a beta of 0.54. The stock has a 50 day moving average of $38.44 and a 200-day moving average of $37.26.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Friday, April 21st. The textile maker reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.04. The company had revenue of $366.40 million for the quarter, compared to analysts’ expectations of $359.52 million. Steven Madden had a net margin of 8.17% and a return on equity of 17.17%. Steven Madden’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 earnings per share. Equities analysts forecast that Steven Madden will post $2.19 earnings per share for the current fiscal year.

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In other Steven Madden news, CFO Arvind Dharia sold 20,000 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $40.22, for a total transaction of $804,400.00. Following the completion of the transaction, the chief financial officer now owns 66,662 shares of the company’s stock, valued at $2,681,145.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard P. Randall sold 2,454 shares of the firm’s stock in a transaction on Wednesday, April 26th. The shares were sold at an average price of $38.48, for a total value of $94,429.92. Following the transaction, the director now directly owns 24,551 shares of the company’s stock, valued at approximately $944,722.48. The disclosure for this sale can be found here. Insiders have sold 125,194 shares of company stock valued at $4,927,107 in the last three months. Insiders own 2.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Steven Madden by 148,882.3% in the first quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock valued at $266,833,000 after buying an additional 6,917,070 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Steven Madden by 4.6% in the first quarter. Vanguard Group Inc. now owns 4,809,629 shares of the textile maker’s stock valued at $185,410,000 after buying an additional 211,878 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Steven Madden by 7.6% in the first quarter. Macquarie Group Ltd. now owns 1,935,826 shares of the textile maker’s stock valued at $74,626,000 after buying an additional 136,220 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Steven Madden by 9.2% in the first quarter. Dimensional Fund Advisors LP now owns 1,656,633 shares of the textile maker’s stock valued at $63,863,000 after buying an additional 139,594 shares in the last quarter. Finally, State Street Corp raised its position in shares of Steven Madden by 7.1% in the first quarter. State Street Corp now owns 1,430,412 shares of the textile maker’s stock valued at $55,143,000 after buying an additional 94,475 shares in the last quarter. 92.85% of the stock is owned by institutional investors and hedge funds.

About Steven Madden

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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