Citigroup Issues Positive Forecast for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO) had its target price raised by research analysts at Citigroup from $43.00 to $45.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. Citigroup’s price target points to a potential downside of 0.92% from the company’s previous close.

A number of other research firms have also weighed in on SHOO. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a report on Thursday. StockNews.com raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler reissued a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Finally, Wedbush reaffirmed a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Trading Down 0.4 %

Steven Madden stock traded down $0.18 during mid-day trading on Friday, reaching $45.42. The company had a trading volume of 403,370 shares, compared to its average volume of 703,204. Steven Madden has a fifty-two week low of $32.71 and a fifty-two week high of $50.01. The company has a market cap of $3.30 billion, a P/E ratio of 19.33 and a beta of 1.08. The business has a fifty day simple moving average of $46.42 and a 200 day simple moving average of $44.13.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. Research analysts forecast that Steven Madden will post 2.62 EPS for the current year.

Institutional Investors Weigh In On Steven Madden

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its holdings in shares of Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares in the last quarter. Gladius Capital Management LP bought a new position in Steven Madden during the third quarter worth $36,000. Exchange Traded Concepts LLC acquired a new stake in Steven Madden in the third quarter worth $59,000. GAMMA Investing LLC grew its holdings in Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares during the period. Finally, EntryPoint Capital LLC bought a new stake in Steven Madden in the first quarter valued at $81,000. 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.