Loop Capital Boosts Steven Madden (NASDAQ:SHOO) Price Target to $55.00

Steven Madden (NASDAQ:SHOOGet Rating) had its price target boosted by research analysts at Loop Capital from $50.00 to $55.00 in a research report issued on Thursday, The Fly reports. Loop Capital’s price target suggests a potential upside of 28.26% from the company’s current price.

Several other equities analysts also recently weighed in on the company. StockNews.com initiated coverage on Steven Madden in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research downgraded Steven Madden from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research report on Thursday, January 6th. 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 stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $54.22.

NASDAQ SHOO opened at $42.88 on Thursday. The company has a market capitalization of $3.42 billion, a PE ratio of 18.32 and a beta of 1.23. The business’s fifty day moving average is $40.40 and its 200 day moving average is $43.26. Steven Madden has a fifty-two week low of $36.77 and a fifty-two week high of $51.56.

Steven Madden (NASDAQ:SHOOGet Rating) last released its earnings results on Wednesday, April 27th. The textile maker reported $0.92 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.41. The company had revenue of $557.34 million for the quarter, compared to the consensus estimate of $468.72 million. Steven Madden had a return on equity of 25.37% and a net margin of 10.22%. Steven Madden’s quarterly revenue was up 55.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 earnings per share. Sell-side analysts anticipate that Steven Madden will post 2.81 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of SHOO. Morgan Stanley lifted its position in shares of Steven Madden by 14.8% in the second quarter. Morgan Stanley now owns 351,705 shares of the textile maker’s stock worth $15,390,000 after buying an additional 45,233 shares in the last quarter. State of New Jersey Common Pension Fund D increased its stake in Steven Madden by 10.5% during the third quarter. State of New Jersey Common Pension Fund D now owns 66,402 shares of the textile maker’s stock worth $2,667,000 after acquiring an additional 6,332 shares during the last quarter. SG Americas Securities LLC increased its stake in Steven Madden by 134.8% during the third quarter. SG Americas Securities LLC now owns 49,954 shares of the textile maker’s stock worth $2,006,000 after acquiring an additional 28,679 shares during the last quarter. Raymond James & Associates increased its stake in Steven Madden by 1.8% during the third quarter. Raymond James & Associates now owns 86,231 shares of the textile maker’s stock worth $3,463,000 after acquiring an additional 1,552 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in Steven Madden during the third quarter worth approximately $506,000. Institutional investors own 95.28% of the company’s stock.

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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