Steven Madden, Ltd. (NASDAQ:SHOO)‘s stock had its “buy” rating reissued by research analysts at Susquehanna Bancshares Inc in a research note issued on Tuesday, November 7th. They currently have a $48.00 price objective on the textile maker’s stock. Susquehanna Bancshares Inc’s price target indicates a potential upside of 20.60% from the company’s previous close.
Several other research firms also recently weighed in on SHOO. Wedbush assumed coverage on Steven Madden in a report on Monday, August 14th. They issued an “outperform” rating and a $48.00 target price for the company. ValuEngine downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Zacks Investment Research raised Steven Madden from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Thursday, September 28th. Piper Jaffray Companies set a $43.00 price objective on Steven Madden and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, B. Riley set a $47.00 price objective on Steven Madden and gave the company a “buy” rating in a research note on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $43.96.
Steven Madden (NASDAQ SHOO) traded up $0.05 during trading hours on Tuesday, hitting $39.80. The stock had a trading volume of 177,924 shares, compared to its average volume of 648,309. The firm has a market cap of $2,352.30, a PE ratio of 17.77, a P/E/G ratio of 1.50 and a beta of 0.48. Steven Madden has a twelve month low of $33.50 and a twelve month high of $44.40.
In related news, Director Richard P. Randall sold 2,000 shares of the company’s 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 sale, the director now owns 22,809 shares in the company, valued at approximately $867,882.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.06% of the company’s stock.
Several institutional investors have recently modified their holdings of SHOO. BlackRock Inc. lifted its stake in shares of Steven Madden by 148,882.3% during the 1st quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock worth $266,833,000 after purchasing an additional 6,917,070 shares during the period. 1060 Capital LLC purchased a new position in shares of Steven Madden in the 2nd quarter worth $24,372,000. Wells Fargo & Company MN raised its position in shares of Steven Madden by 386.5% in the 2nd quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock worth $27,924,000 after buying an additional 555,283 shares during the period. Macquarie Group Ltd. raised its position in shares of Steven Madden by 16.2% in the 2nd quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock worth $89,889,000 after buying an additional 314,205 shares during the period. Finally, Old Mutual Global Investors UK Ltd. raised its position in shares of Steven Madden by 1,756.3% in the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 309,456 shares of the textile maker’s stock worth $13,399,000 after buying an additional 292,785 shares during the period. 91.44% of the stock is currently owned by institutional investors.
Steven Madden Company Profile
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.
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