Published On: Sun, Sep 18th, 2016

Steven Madden Ltd. (SHOO) Downgraded by B. Riley to Neutral

Steven Madden Ltd. (NASDAQ:SHOO) was downgraded by B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Monday. They presently have a $40.00 price target on the stock, down from their previous price target of $47.00. B. Riley’s target price would suggest a potential upside of 16.82% from the company’s current price.
Several other research firms have also weighed in on SHOO. Zacks Investment Research upgraded shares of Steven Madden from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, May 5th. BB&T Corp. restated a “hold” rating on shares of Steven Madden in a research report on Saturday, June 11th. Sterne Agee CRT restated a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a research report on Friday, April 22nd. Piper Jaffray Cos. lowered shares of Steven Madden from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $38.00 to $36.00 in a research report on Tuesday, April 12th. Finally, Jefferies Group restated a “buy” rating on shares of Steven Madden in a research report on Sunday, April 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Steven Madden has an average rating of “Hold” and an average target price of $38.64.
Shares of Steven Madden (NASDAQ:SHOO) opened at 34.24 on Monday. Steven Madden has a 12-month low of $27.80 and a 12-month high of $41.95. The stock has a market capitalization of $2.10 billion, a P/E ratio of 18.15 and a beta of 0.90. The company has a 50-day moving average of $35.08 and a 200-day moving average of $35.02.

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Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Steven Madden had a net margin of 8.02% and a return on equity of 16.36%. The company earned $325.40 million during the quarter, compared to analyst estimates of $329.54 million. During the same quarter last year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts expect that Steven Madden will post $1.99 earnings per share for the current fiscal year.
In related news, Director Richard P. Randall sold 3,125 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $35.33, for a total transaction of $110,406.25. Following the transaction, the director now owns 26,425 shares of the company’s stock, valued at $933,595.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.20% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio raised its position in shares of Steven Madden by 18.5% in the second quarter. Public Employees Retirement System of Ohio now owns 3,550 shares of the company’s stock valued at $121,000 after buying an additional 555 shares during the last quarter. BlackRock Inc. raised its position in shares of Steven Madden by 124.0% in the first quarter. BlackRock Inc. now owns 3,805 shares of the company’s stock valued at $140,000 after buying an additional 2,106 shares during the last quarter. Strs Ohio raised its position in shares of Steven Madden by 14.6% in the second quarter. Strs Ohio now owns 4,700 shares of the company’s stock valued at $160,000 after buying an additional 600 shares during the last quarter. PineBridge Investments L.P. raised its position in shares of Steven Madden by 3.8% in the second quarter. PineBridge Investments L.P. now owns 7,057 shares of the company’s stock valued at $241,000 after buying an additional 261 shares during the last quarter. Finally, Amalgamated Bank raised its position in shares of Steven Madden by 19.0% in the second quarter. Amalgamated Bank now owns 7,055 shares of the company’s stock valued at $249,000 after buying an additional 1,124 shares during the last quarter. 93.25% of the stock is currently owned by hedge funds and other institutional investors.
Steven Madden Company Profile

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