Steven Madden (NASDAQ:SHOO) Price Target Cut to $38.00 by Analysts at Citigroup

Steven Madden (NASDAQ:SHOOGet Free Report) had its target price lowered by research analysts at Citigroup from $45.00 to $38.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. Citigroup’s price target would suggest a potential upside of 1.90% from the company’s previous close.

Several other equities analysts also recently issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Telsey Advisory Group reduced their price target on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a report on Tuesday. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Finally, Piper Sandler reduced their price objective on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $43.33.

View Our Latest Report on Steven Madden

Steven Madden Stock Down 2.7 %

SHOO stock traded down $1.03 during trading on Tuesday, hitting $37.29. 1,428,568 shares of the company’s stock traded hands, compared to its average volume of 668,344. Steven Madden has a 52 week low of $36.90 and a 52 week high of $50.01. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 15.87 and a beta of 1.07. The stock has a fifty day moving average price of $42.57 and a two-hundred day moving average price of $44.26.

Steven Madden (NASDAQ:SHOOGet Free Report) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, equities research analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently bought and sold shares of the business. Gladius Capital Management LP acquired a new stake in Steven Madden in the 3rd quarter valued at about $36,000. Exchange Traded Concepts LLC acquired a new stake in Steven Madden during the 3rd quarter worth about $59,000. R Squared Ltd acquired a new stake in Steven Madden during the 4th quarter worth about $55,000. GAMMA Investing LLC raised its holdings in Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after buying an additional 593 shares during the period. Finally, Blue Trust Inc. raised its holdings in Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after buying an additional 785 shares during the period. 99.88% of the stock is owned by institutional investors and hedge funds.

About Steven Madden

(Get Free Report)

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.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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