Steven Madden, Ltd. (NASDAQ:SHOO) has been assigned a $47.00 price target by equities research analysts at Canaccord Genuity in a report released on Tuesday. The firm presently has a “buy” rating on the textile maker’s stock. Canaccord Genuity’s price objective would suggest a potential upside of 20.51% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $39.00 target price on shares of Steven Madden in a research note on Tuesday. Piper Jaffray Companies set a $43.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research note on Tuesday. B. Riley set a $47.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research note on Thursday, October 26th. Susquehanna Bancshares Inc reiterated a “buy” rating and set a $48.00 target price on shares of Steven Madden in a research note on Monday, October 23rd. Finally, Zacks Investment Research downgraded shares of Steven Madden from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $44.13.

Shares of Steven Madden (NASDAQ:SHOO) traded down 8.88% during mid-day trading on Tuesday, reaching $39.00. The company’s stock had a trading volume of 1,644,013 shares. The company’s 50-day moving average is $42.21 and its 200-day moving average is $40.24. Steven Madden has a 52 week low of $33.50 and a 52 week high of $44.40. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 18.78 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Monday, October 30th. The textile maker reported $0.77 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.77. Steven Madden had a net margin of 7.76% and a return on equity of 15.64%. The company had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Steven Madden’s revenue for the quarter was up 8.0% on a year-over-year basis. Equities analysts predict that Steven Madden will post $2.25 EPS for the current year.

WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://www.americanbankingnews.com/2017/10/31/canaccord-genuity-analysts-give-steven-madden-ltd-shoo-a-47-00-price-target.html.

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in 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 purchasing an additional 6,917,070 shares during the period. Vanguard Group Inc. lifted its position in 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 purchasing an additional 211,878 shares during the period. Macquarie Group Ltd. lifted its position in Steven Madden by 16.2% in the second quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock valued at $89,889,000 after purchasing an additional 314,205 shares during the period. Dimensional Fund Advisors LP lifted its position in 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 purchasing an additional 139,594 shares during the period. Finally, State Street Corp lifted its position in Steven Madden by 5.2% in the second quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock valued at $60,144,000 after purchasing an additional 75,022 shares during the period. Hedge funds and other institutional investors own 91.15% 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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

Receive News & Ratings for Steven Madden Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.