Steven Madden (NASDAQ:SHOO) Given New $40.00 Price Target at Piper Sandler

Steven Madden (NASDAQ:SHOO) had its price target cut by equities researchers at Piper Sandler from $45.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Piper Sandler’s price objective points to a potential upside of 4.38% from the company’s current price.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Telsey Advisory Group reduced their target price on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating on the stock in a report on Tuesday. Citigroup upped their target price on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.50.

Steven Madden Price Performance

Shares of SHOO stock opened at $38.32 on Tuesday. Steven Madden has a one year low of $37.99 and a one year high of $50.01. The company’s fifty day moving average price is $42.57 and its 200-day moving average price is $44.26. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 16.31 and a beta of 1.07.

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SHOO. Gladius Capital Management LP acquired a new stake in shares of Steven Madden in the 3rd quarter worth $36,000. R Squared Ltd acquired a new stake in Steven Madden in the fourth quarter worth about $55,000. Exchange Traded Concepts LLC purchased a new stake in shares of Steven Madden during the third quarter worth about $59,000. GAMMA Investing LLC raised its position in shares of 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 purchasing an additional 593 shares during the last quarter. Finally, Blue Trust Inc. raised its position in shares of Steven Madden by 94.1% in the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after purchasing an additional 785 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

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.