Loop Capital Increases Steven Madden (NASDAQ:SHOO) Price Target to $46.00

Steven Madden (NASDAQ:SHOO) had its price objective lifted by analysts at Loop Capital to $46.00 in a research report issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the textile maker’s stock. Loop Capital’s price objective would indicate a potential upside of 9.63% from the stock’s current price.

A number of other research analysts have also recently commented on SHOO. BidaskClub cut Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research downgraded Steven Madden from a “hold” rating to a “sell” rating and set a $43.00 price target for the company. in a research note on Wednesday, October 30th. ValuEngine cut shares of Steven Madden from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 2nd. Finally, Telsey Advisory Group boosted their target price on shares of Steven Madden from $36.00 to $40.00 and gave the stock a “market perform” rating in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Steven Madden has a consensus rating of “Hold” and an average target price of $40.14.

SHOO stock traded up $0.76 during trading on Wednesday, reaching $41.96. The company’s stock had a trading volume of 40,914 shares, compared to its average volume of 570,170. The company’s fifty day moving average is $40.65 and its 200-day moving average is $34.74. The company has a market capitalization of $3.57 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 3.64 and a beta of 0.81. Steven Madden has a 1 year low of $27.88 and a 1 year high of $44.79.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, October 29th. The textile maker reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.09. The business had revenue of $497.31 million for the quarter, compared to the consensus estimate of $487.18 million. Steven Madden had a return on equity of 20.01% and a net margin of 7.71%. The business’s revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.65 earnings per share. On average, equities analysts forecast that Steven Madden will post 1.94 EPS for the current year.

In other news, CFO Arvind Dharia sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $36.30, for a total transaction of $272,250.00. Following the sale, the chief financial officer now directly owns 102,107 shares of the company’s stock, valued at approximately $3,706,484.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Amelia Varela sold 80,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $41.54, for a total value of $3,323,200.00. Following the transaction, the president now owns 231,276 shares of the company’s stock, valued at $9,607,205.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 142,736 shares of company stock valued at $5,898,375. Company insiders own 1.96% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new position in Steven Madden during the second quarter valued at $12,004,000. SG Americas Securities LLC grew its stake in shares of Steven Madden by 53.9% in the 2nd quarter. SG Americas Securities LLC now owns 22,648 shares of the textile maker’s stock worth $769,000 after buying an additional 7,929 shares in the last quarter. Aperio Group LLC grew its stake in shares of Steven Madden by 3.3% in the 2nd quarter. Aperio Group LLC now owns 33,838 shares of the textile maker’s stock worth $1,149,000 after buying an additional 1,071 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Steven Madden by 2.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,578 shares of the textile maker’s stock worth $379,000 after buying an additional 295 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in shares of Steven Madden by 126.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 60,224 shares of the textile maker’s stock worth $2,155,000 after buying an additional 33,643 shares during the last quarter. Institutional investors own 99.21% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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