Steven Madden, Ltd. (NASDAQ:SHOO)‘s stock had its “buy” rating reissued by Piper Jaffray Companies in a research report issued to clients and investors on Thursday. They presently have a $45.00 target price on the textile maker’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 9.36% from the stock’s previous close.

Several other research analysts also recently commented on SHOO. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $42.00 price target on shares of Steven Madden in a research note on Monday, April 17th. Zacks Investment Research downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. Canaccord Genuity reaffirmed a “buy” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Wednesday, April 19th. B. Riley reaffirmed a “buy” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Monday, April 24th. Finally, Citigroup Inc. raised their price target on shares of Steven Madden from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, April 25th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Steven Madden currently has an average rating of “Buy” and a consensus price target of $43.00.

Shares of Steven Madden (NASDAQ SHOO) traded down 0.24% during trading on Thursday, hitting $41.15. 771,177 shares of the company traded hands. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 19.81 and a beta of 0.53. Steven Madden has a 52 week low of $32.30 and a 52 week high of $42.65. The company has a 50 day moving average price of $39.40 and a 200 day moving average price of $37.79.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The company had revenue of $374.15 million for the quarter, compared to the consensus estimate of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.42 EPS. On average, analysts expect that Steven Madden will post $2.24 earnings per share for the current year.

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In other Steven Madden news, CFO Arvind Dharia sold 20,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $40.22, for a total transaction of $804,400.00. Following the transaction, the chief financial officer now owns 66,662 shares of the company’s stock, valued at approximately $2,681,145.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Awadhesh K. Sinha sold 10,500 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $40.00, for a total transaction of $420,000.00. Following the transaction, the chief operating officer now directly owns 66,683 shares in the company, valued at approximately $2,667,320. The disclosure for this sale can be found here. Insiders have sold a total of 122,740 shares of company stock worth $4,832,677 in the last three months. Insiders own 2.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rothschild Asset Management Inc. increased its position in Steven Madden by 0.5% in the first quarter. Rothschild Asset Management Inc. now owns 485,208 shares of the textile maker’s stock worth $18,705,000 after buying an additional 2,500 shares during the period. Nicholas Investment Partners LP acquired a new position in Steven Madden during the first quarter worth approximately $1,958,000. Parametrica Management Ltd acquired a new position in Steven Madden during the first quarter worth approximately $250,000. Bank of New York Mellon Corp increased its position in Steven Madden by 6.5% in the first quarter. Bank of New York Mellon Corp now owns 753,863 shares of the textile maker’s stock worth $29,061,000 after buying an additional 45,928 shares during the period. Finally, Dimensional Fund Advisors LP increased 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 worth $63,863,000 after buying an additional 139,594 shares during the period. 91.11% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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