Steven Madden (NASDAQ:SHOO) Given New $25.00 Price Target at Piper Sandler

Steven Madden (NASDAQ:SHOO) had its price objective reduced by Piper Sandler from $35.00 to $25.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the textile maker’s stock. Piper Sandler’s target price would suggest a potential upside of 20.19% from the company’s previous close.

A number of other equities analysts have also weighed in on SHOO. StockNews.com lowered Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Jefferies Financial Group reiterated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Telsey Advisory Group decreased their price target on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a report on Thursday, February 27th. Loop Capital dropped their price objective on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Finally, Citigroup decreased their target price on shares of Steven Madden from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Thursday, February 27th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and a consensus price target of $37.83.

Steven Madden Stock Down 1.8 %

Shares of NASDAQ SHOO opened at $20.80 on Friday. Steven Madden has a 52 week low of $19.05 and a 52 week high of $50.01. The firm has a market cap of $1.51 billion, a P/E ratio of 8.85 and a beta of 0.98. The business’s 50 day moving average price is $29.98 and its 200 day moving average price is $39.20.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 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 $582.32 million for the quarter, compared to the consensus estimate of $550.37 million. As a group, research analysts expect that Steven Madden will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently made changes to their positions in the company. R Squared Ltd acquired a new stake in shares of Steven Madden in the fourth quarter valued at about $55,000. Quarry LP raised its holdings in Steven Madden by 403.6% in the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after acquiring an additional 1,110 shares during the last quarter. Blue Trust Inc. lifted its position in Steven Madden by 20.9% during the fourth quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock worth $83,000 after buying an additional 339 shares in the last quarter. KBC Group NV boosted its stake in Steven Madden by 36.5% during the fourth quarter. KBC Group NV now owns 3,013 shares of the textile maker’s stock worth $128,000 after buying an additional 805 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Steven Madden by 21.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,171 shares of the textile maker’s stock valued at $176,000 after buying an additional 741 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

About Steven Madden

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.