Steven Madden (SHOO) Given Buy Rating at B. Riley

B. Riley reiterated their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a research report sent to investors on Tuesday, Marketbeat Ratings reports. They currently have a $52.00 price objective on the textile maker’s stock, up from their prior price objective of $47.00. B. Riley also issued estimates for Steven Madden’s Q4 2017 earnings at $0.46 EPS, FY2017 earnings at $2.22 EPS, Q1 2018 earnings at $0.56 EPS, Q2 2018 earnings at $0.59 EPS, Q3 2018 earnings at $0.94 EPS, Q4 2018 earnings at $0.58 EPS and FY2018 earnings at $2.66 EPS.

A number of other equities analysts have also commented on SHOO. Piper Jaffray Companies set a $51.00 price target on shares of Steven Madden and gave the company a buy rating in a research report on Monday, January 8th. Zacks Investment Research upgraded shares of Steven Madden from a hold rating to a buy rating and set a $47.00 price target on the stock in a research report on Thursday, September 28th. Canaccord Genuity set a $50.00 price target on shares of Steven Madden and gave the company a buy rating in a research report on Sunday, January 7th. Telsey Advisory Group restated an outperform rating and issued a $51.00 price target (up from $44.00) on shares of Steven Madden in a research report on Tuesday. Finally, ValuEngine lowered shares of Steven Madden from a buy rating to a hold rating in a research report on Thursday, October 5th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $48.21.

Shares of Steven Madden (SHOO) opened at $48.20 on Tuesday. Steven Madden has a 12-month low of $33.50 and a 12-month high of $48.80. The firm has a market cap of $2,850.00, a PE ratio of 22.95, a PEG ratio of 1.81 and a beta of 0.51.

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

In other news, Director Richard P. Randall sold 2,000 shares of the company’s 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 in the company, valued at $867,882.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Awadhesh K. Sinha sold 6,500 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $45.03, for a total transaction of $292,695.00. Following the transaction, the chief operating officer now owns 63,383 shares in the company, valued at $2,854,136.49. The disclosure for this sale can be found here. Insiders have sold 34,000 shares of company stock worth $1,460,100 over the last quarter. 2.06% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Amalgamated Bank lifted its position in shares of Steven Madden by 0.4% during the second quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock worth $324,000 after purchasing an additional 32 shares in the last quarter. CS Mckee LP lifted its position in shares of Steven Madden by 0.5% during the second quarter. CS Mckee LP now owns 22,175 shares of the textile maker’s stock worth $886,000 after purchasing an additional 100 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Steven Madden by 1.0% during the second quarter. PNC Financial Services Group Inc. now owns 19,118 shares of the textile maker’s stock worth $763,000 after purchasing an additional 189 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Steven Madden by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 53,280 shares of the textile maker’s stock worth $2,129,000 after purchasing an additional 217 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of Steven Madden by 9.1% during the second quarter. Public Employees Retirement System of Ohio now owns 4,990 shares of the textile maker’s stock worth $199,000 after purchasing an additional 415 shares in the last quarter. 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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