Steven Madden (NASDAQ:SHOO) Price Target Lowered to $25.00 at Piper Sandler

Steven Madden (NASDAQ:SHOO - Get Free Report) had its price target decreased by Piper Sandler from $35.00 to $25.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the textile maker's stock. Piper Sandler's price target suggests a potential upside of 28.07% from the company's current price.

A number of other research analysts also recently issued reports on SHOO. StockNews.com downgraded shares of Steven Madden from a "buy" rating to a "hold" rating in a research report 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 objective on Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a research note on Thursday, February 27th. Loop Capital reduced their target price on Steven Madden from $40.00 to $35.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Finally, Citigroup cut their price target on shares of Steven Madden from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Thursday, February 27th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $37.83.

Steven Madden Trading Down 3.6 %

Shares of Steven Madden stock traded down $0.73 during mid-day trading on Friday, reaching $19.52. 357,968 shares of the stock were exchanged, compared to its average volume of 888,496. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 8.31 and a beta of 0.98. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $50.01. The firm has a 50-day simple moving average of $29.30 and a 200 day simple moving average of $38.81.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. On average, research analysts predict that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. bought a new stake in Steven Madden during the fourth quarter worth about $72,795,000. First Trust Advisors LP boosted its holdings in shares of Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after buying an additional 539,738 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Steven Madden in the fourth quarter valued at $13,652,000. Norges Bank bought a new stake in Steven Madden during the fourth quarter worth $9,399,000. Finally, Trexquant Investment LP increased its stake in shares of Steven Madden by 147.3% during the 4th quarter. Trexquant Investment LP now owns 257,334 shares of the textile maker's stock worth $10,942,000 after purchasing an additional 153,280 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Company Profile

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.