Steven Madden, Ltd. (SHOO) Price Target Raised to $38.00 at Morgan Stanley

Steven Madden, Ltd. (NASDAQ:SHOO) had its price objective boosted by Morgan Stanley from $37.00 to $38.00 in a research note issued to investors on Tuesday morning. Morgan Stanley currently has an equal weight rating on the textile maker’s stock.

SHOO has been the topic of a number of other research reports. Jefferies Group LLC set a $37.00 price target on Steven Madden and gave the stock a hold rating in a report on Saturday, May 13th. B. Riley restated a buy rating and issued a $45.00 price target on shares of Steven Madden in a report on Monday, March 6th. Canaccord Genuity set a $45.00 price target on Steven Madden and gave the stock a buy rating in a report on Friday, May 26th. Finally, Piper Jaffray Companies set a $41.00 price target on Steven Madden and gave the stock a buy rating in a report on Wednesday, May 31st. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $41.00.

Steven Madden (NASDAQ SHOO) traded down 0.13% during trading on Tuesday, hitting $38.70. The stock had a trading volume of 280,590 shares. Steven Madden has a 12-month low of $32.14 and a 12-month high of $40.55. The firm has a market cap of $2.30 billion, a P/E ratio of 19.40 and a beta of 0.43. The stock’s 50 day moving average price is $37.98 and its 200 day moving average price is $37.19.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Friday, April 21st. The textile maker reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.04. Steven Madden had a return on equity of 10.94% and a net margin of 5.60%. The company had revenue of $366.40 million for the quarter, compared to analysts’ expectations of $359.52 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts anticipate that Steven Madden will post $2.19 EPS for the current fiscal year.

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In other Steven Madden news, Director Richard P. Randall sold 2,454 shares of the stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $38.48, for a total transaction of $94,429.92. Following the sale, the director now owns 24,551 shares in the company, valued at approximately $944,722.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Karla Frieders sold 10,600 shares of the stock in a transaction on Friday, March 17th. The shares were sold at an average price of $37.59, for a total value of $398,454.00. Following the sale, the insider now owns 79,269 shares in the company, valued at approximately $2,979,721.71. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,054 shares of company stock worth $2,832,284. 2.20% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. Elkfork Partners LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock worth $103,000 after buying an additional 396 shares during the period. TrimTabs Asset Management LLC boosted its stake in shares of Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock worth $117,000 after buying an additional 1,424 shares during the period. Meadow Creek Investment Management LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock worth $131,000 after buying an additional 504 shares during the period. Pacad Investment Ltd. bought a new stake in shares of Steven Madden during the fourth quarter worth approximately $154,000. Finally, Glen Harbor Capital Management LLC boosted its stake in shares of Steven Madden by 17.5% in the first quarter. Glen Harbor Capital Management LLC now owns 4,114 shares of the textile maker’s stock worth $159,000 after buying an additional 612 shares during the period. Hedge funds and other institutional investors own 95.13% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:SHOO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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