Piper Sandler Lowers Steven Madden (NASDAQ:SHOO) Price Target to $40.00

Steven Madden (NASDAQ:SHOO) had its target price cut by stock analysts at Piper Sandler from $45.00 to $40.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. Piper Sandler’s price target would indicate a potential upside of 6.38% from the company’s previous close.

SHOO has been the topic of a number of other reports. Telsey Advisory Group lowered their target price on Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a research report on Tuesday. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Citigroup increased their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.33.

Steven Madden Stock Performance

Shares of SHOO stock opened at $37.60 on Tuesday. Steven Madden has a fifty-two week low of $36.88 and a fifty-two week high of $50.01. The stock has a 50 day simple moving average of $42.29 and a two-hundred day simple moving average of $44.17. The company has a market cap of $2.71 billion, a P/E ratio of 16.00 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. On average, research analysts predict that Steven Madden will post 2.66 earnings per share for the current year.

Institutional Trading of Steven Madden

Hedge funds have recently made changes to their positions in the company. Gladius Capital Management LP bought a new stake in Steven Madden in the 3rd quarter valued at about $36,000. R Squared Ltd purchased a new stake in shares of Steven Madden during the 4th quarter valued at approximately $55,000. Exchange Traded Concepts LLC bought a new position in Steven Madden in the 3rd quarter worth approximately $59,000. GAMMA Investing LLC grew its stake in Steven Madden by 80.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after buying an additional 593 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after acquiring an additional 785 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Company Profile

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.