Shares of Steven Madden, Ltd. (NASDAQ:SHOO) have been given an average rating of “Buy” by the twelve ratings firms that are currently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $41.18.

A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Steven Madden from $37.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 6th. Canaccord Genuity raised their price objective on Steven Madden from $45.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, June 5th. Piper Jaffray Companies set a $41.00 price objective on Steven Madden and gave the company a “buy” rating in a research note on Friday, April 21st. Jefferies Group LLC set a $37.00 price objective on Steven Madden and gave the company a “hold” rating in a research note on Saturday, May 13th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $42.00 price objective on shares of Steven Madden in a research note on Monday, April 17th.

Shares of Steven Madden (NASDAQ:SHOO) opened at 39.00 on Tuesday. Steven Madden has a 52-week low of $32.30 and a 52-week high of $40.75. The firm has a 50 day moving average price of $38.44 and a 200-day moving average price of $37.26. The company has a market cap of $2.32 billion, a price-to-earnings ratio of 19.55 and a beta of 0.54.

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

In other Steven Madden news, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $39.51, for a total value of $987,750.00. Following the completion of the sale, the president now owns 89,099 shares of the company’s stock, valued at approximately $3,520,301.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Arvind Dharia sold 20,000 shares of Steven Madden stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 66,662 shares of the company’s stock, valued at approximately $2,681,145.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,194 shares of company stock valued at $4,927,107. 2.20% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of SHOO. Great West Life Assurance Co. Can increased its stake in Steven Madden by 5.1% in the first quarter. Great West Life Assurance Co. Can now owns 76,496 shares of the textile maker’s stock worth $2,944,000 after buying an additional 3,696 shares during the period. Jennison Associates LLC acquired a new stake in shares of Steven Madden during the first quarter worth about $455,000. Punch & Associates Investment Management Inc. increased its stake in shares of Steven Madden by 1.9% in the first quarter. Punch & Associates Investment Management Inc. now owns 148,662 shares of the textile maker’s stock worth $5,731,000 after buying an additional 2,729 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Steven Madden by 17.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,114 shares of the textile maker’s stock worth $159,000 after buying an additional 612 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in shares of Steven Madden by 0.5% in the first quarter. Louisiana State Employees Retirement System now owns 22,000 shares of the textile maker’s stock worth $848,000 after buying an additional 100 shares during the last quarter. 92.82% of the stock is owned by institutional investors and hedge funds.

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Steven Madden Company Profile

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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