Analysis: Steven Madden Ltd (NASDAQ:SHOO) Stock Target Has Been Increased Today
In a note issued to clients and investors by Canaccord Genuity on Tuesday morning, the firm, Steven Madden Ltd (NASDAQ:SHOO), had their target price downgraded to $45.00. Analusts now have a solid “Buy” rating on the stock.
From a total of 9 analysts covering Steven Madden (NASDAQ:SHOO) stock, 5 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 45% of the ratings are positive. The highest target price is $48 while the lowest target price is $36. The mean of all analyst targets is $41.44 with a 43.26% above today’s ($31.76) stock price. Steven Madden was the topic of 8 analyst reports since August 12, 2015 according to the firm StockzIntelligence Inc. Taglich upgraded shares on October 1 to “Outperform” rating. B. Riley & Co maintained SHOO stock in a recent report from September 22 with “Buy” rating. Finally, Zacks downgraded the stock to “Buy” rating in a report issued on an August 12.
The stock increased 0.09% or $0.03 during the last trading session, striking $31.76. Approximately shares of stock traded hands. Steven Madden, Ltd. (NASDAQ:SHOO) has declined 17.51% since May 6, 2015 and is downtrending. It has underperformed by 16.71% the S&P500.
The overall sentiment of institutions has increased to 1.37 in Q2 2015. Its up 0.46, from 0.91 in 2015Q2. The ratio is positive, as 27 institutions have sold all the shares of Steven Madden, Ltd. that they owned while 60 funds have taken shares off the table. 32 funds have purchased shares for the first time while 87 added to their positions. These institutions now hold 56.36 million shares or 1.84% less than the 57.41 million shares they owned in 2015Q2.
The Fund Sg Capital Management Llc currently is holding shares equating to 4.27% of its total portfolio in Steven Madden, Ltd. representing a total of 527,311 shares. Another fund,Neumeier Poma Investment Counsel Llc, is holding a total of 458,453 shares equating to 3.17% of their holdings. Additionally, Ranger Investment Management L.P. has a 1.29 million share stake in Steven Madden, Ltd. which represents 2.65% of their total portfolio. The Fund, Euclidean Technologies Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 2.38% of their total portfolio. Finally Ironwood Investment Management Llc, a fund which is based in the state of Massachusetts reported a total holdings of 150,956 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 3, 2015, shareholders of Steven Madden, Ltd. have witnessed 0 insider buys, and a total of 6 insider sales equating to a net activity of approximately $1.22 million . Randall Richard P sold 1,000 shares worth approximately $41,500. Migliorini Peter sold 3,147 shares worth approximately $127,170. Rosenfeld Edward R. sold 15,000 shares worth approximately $595,650. Schwartz Thomas H. sold 3,147 shares worth approximately $126,966. The company insider Dharia Arvind sold 6,900 shares worth $283,314.
Steven Madden, Ltd. designs, sources, markets and sells name brand and private label footwear for women, men and children. The company has a market cap of $1.99 billion. It operates under five divisions, which include Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing. It has 18.06 P/E ratio. The Company’s brands include Madden Girl, Steve Madden Men’s, Madden, Steven, Stevies and Steve Madden Kids, Betsey Johnson, Superga, FREEBIRD by Steve, Report, Mad Love, Dolce Vita and Brian Atwood.
According to Zacks Investment Research, “Steven Madden, Ltd. designs, sources, markets and sells fashion-forward footwear brands for women, men and children. They distribute products through their retail stores, their e-commerce websites, catalogs and department and specialty store” Get a free copy of the Zacks research report on Steven Madden, Ltd. (SHOO).