Steven Madden (NASDAQ:SHOO) has been given a $50.00 price objective by investment analysts at Canaccord Genuity in a research report issued on Sunday. The brokerage presently has a “buy” rating on the textile maker’s stock. Canaccord Genuity’s target price would indicate a potential upside of 6.38% from the company’s current price.
Several other research analysts also recently weighed in on SHOO. Piper Jaffray Companies set a $51.00 price target on Steven Madden and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research upgraded Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research note on Thursday, September 28th. BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. ValuEngine downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Buckingham Research dropped their price objective on Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. 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 has an average rating of “Buy” and an average target price of $46.86.
Steven Madden (NASDAQ:SHOO) traded up $0.75 during mid-day trading on Friday, hitting $47.00. The stock had a trading volume of 527,100 shares, compared to its average volume of 533,456. The company has a market cap of $2,780.00, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 1.81 and a beta of 0.51. Steven Madden has a 12 month low of $33.50 and a 12 month high of $47.55.
In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the sale, the director now owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Awadhesh K. Sinha sold 6,500 shares of the firm’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the sale, the chief operating officer now directly owns 63,383 shares in the company, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. Insiders have sold a total of 34,000 shares of company stock worth $1,460,100 in the last three months. 2.06% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the business. Riverhead Capital Management LLC raised its holdings in shares of Steven Madden by 97.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after acquiring an additional 1,262 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Steven Madden in the 3rd quarter valued at about $158,000. First Quadrant L P CA purchased a new stake in shares of Steven Madden in the 3rd quarter valued at about $191,000. Public Employees Retirement System of Ohio raised its holdings in shares of Steven Madden by 9.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock valued at $199,000 after acquiring an additional 415 shares in the last quarter. Finally, Worth Venture Partners LLC purchased a new stake in shares of Steven Madden in the 3rd quarter valued at about $205,000. 92.98% of the stock is currently owned by hedge funds and other institutional investors.
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About Steven Madden
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.
