Piper Sandler Has Lowered Expectations for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO) had its price target decreased by Piper Sandler from $45.00 to $40.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the textile maker’s stock. Piper Sandler’s price target would indicate a potential upside of 4.38% from the company’s current price.

Other equities analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Citigroup increased their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Telsey Advisory Group reduced their target price on Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a research note on Tuesday. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.50.

Steven Madden Price Performance

NASDAQ:SHOO opened at $38.32 on Tuesday. The company’s fifty day moving average price is $42.57 and its 200-day moving average price is $44.26. Steven Madden has a 1-year low of $37.99 and a 1-year high of $50.01. The firm has a market capitalization of $2.77 billion, a P/E ratio of 16.31 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS. Equities analysts anticipate that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP purchased a new position in Steven Madden during the third quarter worth approximately $36,000. R Squared Ltd purchased a new stake in Steven Madden in the 4th quarter valued at $55,000. Exchange Traded Concepts LLC acquired a new stake in shares of Steven Madden in the 3rd quarter worth $59,000. GAMMA Investing LLC grew its holdings in shares of Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares during the period. Finally, Blue Trust Inc. increased its position in Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after purchasing an additional 785 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.