Steven Madden (NASDAQ:SHOO) Price Target Lowered to $35.00 at Loop Capital

Steven Madden (NASDAQ:SHOO - Get Free Report) had its target price reduced by equities researchers at Loop Capital from $40.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the textile maker's stock. Loop Capital's price objective would suggest a potential upside of 14.94% from the stock's current price.

Several other research firms have also recently commented on SHOO. Jefferies Financial Group restated a "hold" rating on shares of Steven Madden in a report on Monday, February 3rd. StockNews.com lowered shares of Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Citigroup dropped 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 note on Thursday. Telsey Advisory Group reduced their price objective on Steven Madden from $44.00 to $38.00 and set a "market perform" rating for the company in a research report on Thursday. Finally, Piper Sandler lowered their target price on Steven Madden from $45.00 to $40.00 and set a "neutral" rating on the stock in a research note on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.33.

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Steven Madden Price Performance

NASDAQ SHOO traded down $2.34 on Thursday, hitting $30.45. 1,635,008 shares of the stock were exchanged, compared to its average volume of 860,110. The company's 50-day moving average price is $39.83 and its two-hundred day moving average price is $43.41. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 12.96 and a beta of 1.07. Steven Madden has a 52-week low of $30.42 and a 52-week high of $50.01.

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

Institutional Trading of Steven Madden

Several large investors have recently made changes to their positions in the stock. Gladius Capital Management LP acquired a new stake in Steven Madden in the 3rd quarter worth approximately $36,000. R Squared Ltd bought a new position in shares of Steven Madden in the fourth quarter valued at approximately $55,000. Quarry LP lifted its stake in shares of Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock worth $59,000 after buying an additional 1,110 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of 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. Finally, International Assets Investment Management LLC grew its stake in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker's stock valued at $94,000 after buying an additional 1,872 shares during the last quarter. Institutional investors 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.