Steven Madden (NASDAQ:SHOO) Given New $46.00 Price Target at Wedbush

Steven Madden (NASDAQ:SHOOGet Rating) had its target price dropped by research analysts at Wedbush from $55.00 to $46.00 in a report released on Thursday, The Fly reports. Wedbush’s price target would indicate a potential upside of 20.32% from the stock’s current price.

Several other research firms have also issued reports on SHOO. StockNews.com began coverage on shares of Steven Madden in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Loop Capital reduced their target price on shares of Steven Madden from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $52.89.

NASDAQ SHOO opened at $38.23 on Thursday. Steven Madden has a 1 year low of $32.62 and a 1 year high of $51.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.51 and a quick ratio of 1.84. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 12.66 and a beta of 1.11. The company has a fifty day moving average price of $39.16 and a 200-day moving average price of $41.71.

Steven Madden (NASDAQ:SHOOGet Rating) last posted its earnings results on Wednesday, April 27th. The textile maker reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.44. Steven Madden had a net margin of 11.82% and a return on equity of 30.75%. The firm had revenue of $557.34 million during the quarter, compared to analyst estimates of $468.72 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue was up 55.3% compared to the same quarter last year. On average, research analysts anticipate that Steven Madden will post 2.99 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. Morgan Stanley lifted its holdings in Steven Madden by 14.8% during the second quarter. Morgan Stanley now owns 351,705 shares of the textile maker’s stock valued at $15,390,000 after purchasing an additional 45,233 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Steven Madden by 4.0% during the third quarter. Dimensional Fund Advisors LP now owns 1,823,165 shares of the textile maker’s stock valued at $73,226,000 after purchasing an additional 69,929 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Steven Madden by 6.1% during the third quarter. Neuberger Berman Group LLC now owns 18,452 shares of the textile maker’s stock valued at $740,000 after purchasing an additional 1,054 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in Steven Madden during the third quarter valued at about $132,000. Finally, Invesco Ltd. lifted its holdings in Steven Madden by 11.0% during the third quarter. Invesco Ltd. now owns 245,295 shares of the textile maker’s stock valued at $9,851,000 after purchasing an additional 24,293 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden (Get Rating)

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward branded and private label footwear, accessories, and apparel for women, men, and children in the United States and internationally. Its Wholesale Footwear segment provides footwear under the Steve Madden, Steven by Steve Madden, Madden Girl, BB Dakota, Dolce Vita, DV Dolce Vita, Betsey Johnson, GREATS, Blondo, Anne Klein, Mad Love, Superga, Madden NYC, and COOL Planet brands, as well as private label footwear.

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