Steven Madden (SHOO) Given “Buy” Rating at Citigroup

Citigroup reaffirmed their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a research note issued to investors on Tuesday morning. Citigroup currently has a $56.00 price target on the textile maker’s stock.

SHOO has been the subject of several other research reports. Piper Jaffray Companies set a $51.00 target price on shares of Steven Madden and gave the stock a buy rating in a research note on Monday, January 8th. Telsey Advisory Group reduced their price objective on shares of Steven Madden from $45.00 to $44.00 and set an outperform rating for the company in a research note on Wednesday, November 1st. Canaccord Genuity set a $47.00 price objective on shares of Steven Madden and gave the company a buy rating in a research note on Thursday, November 30th. Jefferies Group set a $39.00 price objective on shares of Steven Madden and gave the company a hold rating in a research note on Tuesday, October 31st. Finally, B. Riley set a $47.00 price objective on shares of Steven Madden and gave the company a buy rating in a research note on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $49.13.

Steven Madden (NASDAQ:SHOO) remained flat at $$47.65 during mid-day trading on Tuesday. The company’s stock had a trading volume of 385,183 shares, compared to its average volume of 449,175. Steven Madden has a 1 year low of $33.50 and a 1 year high of $48.80. The company has a market cap of $2,848.78, a price-to-earnings ratio of 22.58, a PEG ratio of 1.75 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, October 31st. The textile maker reported $0.77 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The company had revenue of $441.19 million during the quarter, compared to analysts’ expectations of $441.03 million. During the same quarter last year, the business earned $0.74 EPS. The business’s revenue was up 8.0% on a year-over-year basis. research analysts forecast that Steven Madden will post 2.23 EPS for the current year.

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 shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the completion of the transaction, the director now directly owns 22,809 shares in the company, valued at approximately $867,882.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Amelia Varela sold 25,000 shares of the firm’s stock in a transaction dated 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 owns 113,007 shares of the company’s stock, valued at $4,834,439.46. The disclosure for this sale can be found here. Insiders sold 34,000 shares of company stock valued at $1,460,100 in the last quarter. Company insiders own 2.06% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its holdings in Steven Madden by 4.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 430,107 shares of the textile maker’s stock valued at $20,086,000 after acquiring an additional 18,621 shares in the last quarter. Louisiana State Employees Retirement System increased its holdings in Steven Madden by 6.0% during the 4th quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the textile maker’s stock valued at $1,069,000 after acquiring an additional 1,300 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Steven Madden by 69.6% during the 3rd quarter. GSA Capital Partners LLP now owns 13,991 shares of the textile maker’s stock valued at $606,000 after acquiring an additional 5,740 shares in the last quarter. Algert Global LLC purchased a new position in Steven Madden during the 3rd quarter valued at about $455,000. Finally, Sterling Capital Management LLC increased its holdings in Steven Madden by 15.8% during the 3rd quarter. Sterling Capital Management LLC now owns 43,886 shares of the textile maker’s stock valued at $1,900,000 after acquiring an additional 5,984 shares in the last quarter. Hedge funds and other institutional investors own 92.98% of the company’s stock.

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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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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