Steven Madden (SHOO) Given a $51.00 Price Target at Piper Jaffray Companies

Piper Jaffray Companies set a $51.00 price target on Steven Madden (NASDAQ:SHOO) in a report published on Monday. The brokerage currently has a buy rating on the textile maker’s stock.

A number of other analysts have also commented on SHOO. Zacks Investment Research lowered shares of Steven Madden from a buy rating to a hold rating in a research note on Thursday, September 14th. ValuEngine lowered shares of Steven Madden from a buy rating to a hold rating in a research note on Thursday, October 5th. Susquehanna Bancshares reaffirmed a buy rating and set a $48.00 price objective on shares of Steven Madden in a research note on Monday, October 23rd. 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 Tuesday, October 24th. 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 research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $47.95.

Shares of Steven Madden (SHOO) traded up $0.75 during midday trading on Monday, reaching $47.00. 527,400 shares of the company’s stock were exchanged, compared to its average volume of 565,280. Steven Madden has a 52 week low of $33.50 and a 52 week high of $47.55. The firm has a market cap of $2,800.00, a P/E ratio of 22.38, a price-to-earnings-growth ratio of 1.81 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, meeting the Zacks’ 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 the consensus estimate of $441.03 million. During the same period in the prior year, the company earned $0.74 EPS. Steven Madden’s revenue was up 8.0% on a year-over-year basis. equities analysts anticipate that Steven Madden will post 2.21 EPS for the current fiscal year.

In related news, Director Richard P. Randall sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $38.05, for a total value of $76,100.00. Following the transaction, the director now owns 22,809 shares in the company, valued at $867,882.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Awadhesh K. Sinha sold 6,500 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.03, for a total value of $292,695.00. Following the completion of the transaction, the chief operating officer now owns 63,383 shares in the company, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. Insiders sold 34,000 shares of company stock valued at $1,460,100 over the last three months. 2.06% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC increased its holdings in Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after buying an additional 1,262 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in Steven Madden in the third quarter worth approximately $158,000. First Quadrant L P CA acquired a new position in Steven Madden in the third quarter worth approximately $191,000. Worth Venture Partners LLC acquired a new position in Steven Madden in the third quarter worth approximately $205,000. Finally, Public Employees Retirement System of Ohio increased its holdings in Steven Madden by 9.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after buying an additional 415 shares during the last quarter. Hedge funds and other institutional investors own 92.98% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Steven Madden (SHOO) Given a $51.00 Price Target at Piper Jaffray Companies” was first posted by Markets Daily and is the property of of Markets Daily. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://www.themarketsdaily.com/2018/01/09/steven-madden-shoo-given-a-51-00-price-target-at-piper-jaffray-companies.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.

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.

Latest News

Leave a Reply