Steven Madden’s (SHOO) Buy Rating Reiterated at Susquehanna Bancshares Inc
Steven Madden, Ltd. (NASDAQ:SHOO)‘s stock had its “buy” rating reaffirmed by equities researchers at Susquehanna Bancshares Inc in a research note issued on Monday. They presently have a $48.00 price objective on the textile maker’s stock. Susquehanna Bancshares Inc’s price target indicates a potential upside of 15.80% from the stock’s current price.
A number of other equities research analysts also recently issued reports on the stock. ValuEngine raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a research note on Friday, September 1st. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Thursday, August 3rd. BidaskClub raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Morgan Stanley raised their target price on shares of Steven Madden from $38.00 to $41.50 and gave the company an “equal weight” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $44.29.
Shares of Steven Madden (NASDAQ SHOO) traded down 1.19% during trading on Monday, hitting $41.45. 364,497 shares of the stock traded hands. The stock has a 50-day moving average of $42.10 and a 200 day moving average of $39.93. Steven Madden has a 1-year low of $32.30 and a 1-year high of $43.80. The company has a market cap of $2.45 billion, a P/E ratio of 19.96 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The firm had revenue of $374.15 million for the quarter, compared to the consensus estimate of $355.22 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities research analysts predict that Steven Madden will post $2.25 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in SHOO. Riverhead Capital Management LLC raised its stake in Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after purchasing an additional 1,262 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Steven Madden during the second quarter valued at approximately $127,000. First Mercantile Trust Co. grew its position in Steven Madden by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after acquiring an additional 60 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Steven Madden by 9.7% during the first quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock valued at $176,000 after acquiring an additional 403 shares during the last quarter. Finally, IFP Advisors Inc grew its position in Steven Madden by 3,804.2% during the second quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock valued at $184,000 after acquiring an additional 4,489 shares during the last quarter. 91.32% of the stock is currently owned by institutional investors and hedge funds.
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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