Piper Jaffray Sticks to Its Buy Rating for Steven Madden

In a report released yesterday, Erinn Murphy from Piper Jaffray reiterated a Buy rating on Steven Madden (NASDAQ: SHOO), with a price target of $58. The company’s shares opened today at $54.05, close to its 52-week high of $56.70.

According to TipRanks.com, Murphy is a 1-star analyst with an average return of -0.7% and a 49.0% success rate. Murphy covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies Inc, Wolverine World Wide, and G-III Apparel Group.

Steven Madden has an analyst consensus of Moderate Buy, with a price target consensus of $57.

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Based on Steven Madden’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $28.67 million. In comparison, last year the company had a net profit of $28.96 million.

Based on the recent corporate insider activity of 33 insiders, corporate insider sentiment is negative on the stock.

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Steven Madden Ltd. engages in the design, marketing, and sale of fashion-forward footwear for women, men, and children. It operates through the following segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost, and Licensing. The Wholesale Footwear segment includes branded and private label women’s, men’s, girl’s and children’s footwear.