Steven Madden (NASDAQ:SHOO) Earns Neutral Rating from Wedbush

Steven Madden (NASDAQ:SHOO)‘s stock had its “neutral” rating reiterated by investment analysts at Wedbush in a note issued to investors on Wednesday, Benzinga reports. They currently have a $41.00 price target on the textile maker’s stock. Wedbush’s price objective suggests a potential downside of 5.40% from the company’s current price.

A number of other equities research analysts also recently weighed in on SHOO. BTIG Research lifted their target price on Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Telsey Advisory Group restated a “market perform” rating and issued a $44.00 price target on shares of Steven Madden in a research report on Wednesday, July 31st. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.29.

Steven Madden Price Performance

Steven Madden stock traded up $0.71 during mid-day trading on Wednesday, hitting $43.34. 80,072 shares of the company’s stock traded hands, compared to its average volume of 738,815. The firm has a 50 day simple moving average of $43.54 and a two-hundred day simple moving average of $42.31. Steven Madden has a fifty-two week low of $30.35 and a fifty-two week high of $47.24. The stock has a market cap of $3.18 billion, a price-to-earnings ratio of 17.92 and a beta of 1.09.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business had revenue of $523.60 million during the quarter, compared to the consensus estimate of $515.15 million. During the same quarter last year, the firm posted $0.47 EPS. The company’s quarterly revenue was up 17.6% on a year-over-year basis. On average, research analysts anticipate that Steven Madden will post 2.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Peter Migliorini sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total value of $131,430.00. Following the completion of the transaction, the director now owns 16,006 shares of the company’s stock, valued at $701,222.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Steven Madden news, Director Peter Migliorini sold 3,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the transaction, the director now directly owns 16,006 shares in the company, valued at approximately $701,222.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now owns 21,303 shares in the company, valued at $946,066.23. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,600 shares of company stock valued at $651,586. 2.08% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James & Associates increased its position in shares of Steven Madden by 4.1% during the 4th quarter. Raymond James & Associates now owns 105,879 shares of the textile maker’s stock valued at $4,447,000 after purchasing an additional 4,136 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Steven Madden by 4,100.0% during the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 1,599 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Steven Madden during the 4th quarter valued at $1,474,000. Mackenzie Financial Corp purchased a new stake in shares of Steven Madden during the 4th quarter valued at $207,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Steven Madden by 54.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,914 shares of the textile maker’s stock valued at $1,088,000 after purchasing an additional 9,138 shares during the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.