Steven Madden Ltd. (NASDAQ:SHOO) has received a consensus recommendation of “Hold” from the twelve ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $38.60.
A number of brokerages recently weighed in on SHOO. B. Riley lowered shares of Steven Madden from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $47.00 to $40.00 in a research report on Monday, August 1st. Jefferies Group set a $40.00 price target on shares of Steven Madden and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed a “hold” rating and set a $34.00 price target on shares of Steven Madden in a research note on Friday, July 29th. Telsey Advisory Group decreased their price target on shares of Steven Madden from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 3rd. Finally, Susquehanna initiated coverage on shares of Steven Madden in a research note on Friday, August 12th. They set a “positive” rating and a $42.00 price target on the stock.
Shares of Steven Madden (NASDAQ:SHOO) traded down 1.57% during midday trading on Monday, hitting $34.51. 197,675 shares of the stock were exchanged. The firm has a 50 day moving average of $35.03 and a 200-day moving average of $34.98. The stock has a market cap of $2.11 billion, a P/E ratio of 18.29 and a beta of 0.90. Steven Madden has a 12 month low of $27.80 and a 12 month high of $38.76.
Steven Madden (NASDAQ:SHOO) last issued its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. Steven Madden had a net margin of 8.02% and a return on equity of 16.36%. The firm earned $325.40 million during the quarter, compared to analyst estimates of $329.54 million. During the same quarter in the prior year, the business earned $0.40 earnings per share. Steven Madden’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts anticipate that Steven Madden will post $1.99 EPS for the current year.
In other news, Director Richard P. Randall sold 3,125 shares of the stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $35.33, for a total value of $110,406.25. Following the sale, the director now owns 26,425 shares of the company’s stock, valued at $933,595.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.20% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in SHOO. Public Employees Retirement System of Ohio increased its position in Steven Madden by 18.5% in the second quarter. Public Employees Retirement System of Ohio now owns 3,550 shares of the company’s stock valued at $121,000 after buying an additional 555 shares in the last quarter. BlackRock Inc. increased its position in Steven Madden by 124.0% in the first quarter. BlackRock Inc. now owns 3,805 shares of the company’s stock valued at $140,000 after buying an additional 2,106 shares in the last quarter. Strs Ohio increased its position in Steven Madden by 14.6% in the second quarter. Strs Ohio now owns 4,700 shares of the company’s stock valued at $160,000 after buying an additional 600 shares in the last quarter. Amalgamated Bank increased its position in Steven Madden by 19.0% in the second quarter. Amalgamated Bank now owns 7,055 shares of the company’s stock valued at $249,000 after buying an additional 1,124 shares in the last quarter. Finally, PineBridge Investments L.P. increased its position in Steven Madden by 3.8% in the second quarter. PineBridge Investments L.P. now owns 7,057 shares of the company’s stock valued at $241,000 after buying an additional 261 shares in the last quarter. 93.25% of the stock is currently owned by institutional investors and hedge funds.
About Steven Madden
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