Steven Madden, Ltd. (SHOO) Upgraded by ValuEngine to “Buy”
Steven Madden, Ltd. (NASDAQ:SHOO) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.
A number of other research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a report on Tuesday, June 27th. Canaccord Genuity set a $45.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a report on Friday, May 26th. Piper Jaffray Companies set a $41.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a report on Wednesday, May 31st. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, Morgan Stanley increased their target price on shares of Steven Madden from $38.00 to $41.50 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $43.96.
Shares of Steven Madden (NASDAQ SHOO) traded up 0.71% during trading on Friday, hitting $42.70. 310,117 shares of the company’s stock were exchanged. Steven Madden has a 1-year low of $32.30 and a 1-year high of $43.80. The stock’s 50-day moving average price is $41.27 and its 200-day moving average price is $38.84. The stock has a market cap of $2.53 billion, a PE ratio of 20.56 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, equities analysts expect that Steven Madden will post $2.25 earnings per share for the current fiscal year.
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In related news, insider Karla Frieders sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the transaction, the insider now owns 83,216 shares in the company, valued at approximately $3,212,969.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Arvind Dharia sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were 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 approximately $2,681,145.64. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,740 shares of company stock valued at $2,493,277. 2.06% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. Public Employees Retirement System of Ohio raised its position in Steven Madden by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after buying an additional 415 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Steven Madden during the second quarter valued at about $462,000. Dean Capital Management raised its position in Steven Madden by 39.9% in the second quarter. Dean Capital Management now owns 59,665 shares of the textile maker’s stock valued at $2,384,000 after buying an additional 17,010 shares during the last quarter. CS Mckee LP raised its position in Steven Madden by 0.5% in the second quarter. CS Mckee LP now owns 22,175 shares of the textile maker’s stock valued at $886,000 after buying an additional 100 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Steven Madden by 72.8% in the second quarter. Cubist Systematic Strategies LLC now owns 19,507 shares of the textile maker’s stock valued at $779,000 after buying an additional 8,217 shares during the last quarter. Hedge funds and other institutional investors own 91.37% 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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