Steven Madden, Ltd. (NASDAQ:SHOO) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The brokerage currently has a $48.00 price target on the textile maker’s stock. Zacks Investment Research‘s target price indicates a potential upside of 15.38% from the company’s current price.

According to Zacks, “Steven Madden, Ltd. designs, sources, markets and sells fashion-forward footwear brands for women, men and children. They distribute products through their retail stores, their e-commerce websites, catalogs and department and specialty store “

A number of other equities research analysts have also commented on SHOO. Jefferies Group LLC set a $37.00 price target on Steven Madden and gave the stock a “hold” rating in a research report on Saturday, May 13th. B. Riley reaffirmed a “buy” rating and set a $47.00 price target on shares of Steven Madden in a research report on Wednesday, August 2nd. BidaskClub raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Telsey Advisory Group increased their price objective on Steven Madden from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $44.04.

Shares of Steven Madden (NASDAQ:SHOO) opened at 41.60 on Friday. The company has a market cap of $2.46 billion, a PE ratio of 20.03 and a beta of 0.53. The company has a 50 day moving average price of $40.62 and a 200 day moving average price of $38.33. Steven Madden has a 52 week low of $32.30 and a 52 week high of $43.80.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. The company had revenue of $374.15 million for the quarter, compared to analyst estimates of $355.22 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. Steven Madden’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 earnings per share. On average, equities analysts expect that Steven Madden will post $2.25 earnings per share for the current year.

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In other news, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $39.51, for a total transaction of $987,750.00. Following the completion of the transaction, the president now directly owns 89,099 shares in the company, valued at approximately $3,520,301.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Karla Frieders sold 5,000 shares of Steven Madden stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $38.61, for a total value of $193,050.00. Following the transaction, the insider now owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,740 shares of company stock valued at $4,832,677. Corporate insiders own 2.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank increased its position in shares of Steven Madden by 0.4% in the second quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock valued at $324,000 after buying an additional 32 shares in the last quarter. Jennison Associates LLC increased its position in shares of Steven Madden by 0.4% in the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after buying an additional 44 shares in the last quarter. First Mercantile Trust Co. increased its position in shares of Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Steven Madden by 0.4% in the second quarter. Capstone Asset Management Co. now owns 16,938 shares of the textile maker’s stock valued at $579,000 after buying an additional 70 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position 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 valued at $848,000 after buying an additional 100 shares in the last quarter. Institutional investors own 92.44% of the company’s stock.

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.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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