Citigroup restated their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a research note released on Tuesday morning, The Fly reports. They currently have a $56.00 price objective on the textile maker’s stock.

A number of other equities research analysts also recently issued reports on the stock. Wells Fargo & Co set a $46.00 target price on shares of Steven Madden and gave the company a hold rating in a report on Thursday, January 11th. Zacks Investment Research upgraded shares of Steven Madden from a hold rating to a buy rating and set a $52.00 target price for the company in a report on Wednesday, January 10th. B. Riley restated a buy rating and issued a $52.00 target price (up from $47.00) on shares of Steven Madden in a report on Tuesday, January 9th. Telsey Advisory Group restated an outperform rating and issued a $51.00 target price (up from $44.00) on shares of Steven Madden in a report on Tuesday, January 9th. Finally, Canaccord Genuity set a $50.00 target price on shares of Steven Madden and gave the company a buy rating in a report on Sunday, January 7th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $49.13.

Shares of Steven Madden (NASDAQ:SHOO) remained flat at $$47.65 during midday trading on Tuesday. The stock had a trading volume of 385,183 shares, compared to its average volume of 449,175. The firm has a market capitalization of $2,848.78, a PE ratio of 22.58, a P/E/G ratio of 1.75 and a beta of 0.51. Steven Madden has a 1 year low of $33.50 and a 1 year high of $48.80.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting analysts’ consensus estimates of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million during the quarter, compared to the consensus estimate of $441.03 million. During the same period in the previous year, the firm posted $0.74 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. sell-side analysts anticipate that Steven Madden will post 2.23 earnings per share for the current year.

In other Steven Madden news, Director Richard P. Randall sold 2,000 shares of Steven Madden stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the transaction, the director now directly owns 22,809 shares of the company’s stock, valued at $867,882.45. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Amelia Varela sold 25,000 shares of Steven Madden stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $42.78, for a total transaction of $1,069,500.00. Following the transaction, the president now directly owns 113,007 shares in the company, valued at $4,834,439.46. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,000 shares of company stock worth $1,460,100. 2.06% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. Macquarie Group Ltd. lifted its position in Steven Madden by 8.6% during the third quarter. Macquarie Group Ltd. now owns 2,443,422 shares of the textile maker’s stock valued at $105,800,000 after buying an additional 193,391 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Steven Madden by 2.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,691,671 shares of the textile maker’s stock valued at $73,248,000 after buying an additional 37,264 shares in the last quarter. Eagle Asset Management Inc. lifted its position in Steven Madden by 0.5% during the third quarter. Eagle Asset Management Inc. now owns 1,641,855 shares of the textile maker’s stock valued at $70,681,000 after buying an additional 8,679 shares in the last quarter. State Street Corp lifted its position in Steven Madden by 5.2% during the second quarter. State Street Corp now owns 1,505,434 shares of the textile maker’s stock valued at $60,144,000 after buying an additional 75,022 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in Steven Madden by 2.0% during the second quarter. Royal Bank of Canada now owns 1,177,884 shares of the textile maker’s stock valued at $47,056,000 after buying an additional 23,334 shares in the last quarter. 92.98% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Steven Madden (SHOO) Earns “Buy” Rating from Citigroup” was reported by Daily Political and is the property of of Daily Political. If you are accessing this piece of content on another site, it was stolen and reposted in violation of United States & international trademark and copyright legislation. The legal version of this piece of content can be read at https://www.dailypolitical.com/2018/01/17/steven-madden-shoo-earns-buy-rating-from-citigroup.html.

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.

The Fly

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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