Piper Jaffray Downgrades Steven Madden Ltd. to Neutral

Brokerage firm Piper Jaffray Downgrades its rating on Steven Madden Ltd.(NASDAQ:SHOO). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by Piper Jaffray was issued on Apr 12, 2016.

In a different note, On Mar 1, 2016, Goldman Sachs said it Downgrades its rating on Steven Madden Ltd.. The shares have been rated ‘Sell’ by the firm.

Steven Madden Ltd. (SHOO) made into the market gainers list on Fridays trading session with the shares advancing 1.62% or 0.58 points. Due to strong positive momentum, the stock ended at $36.36, which is also near the day’s high of $36.69. The stock began the session at $35.6 and the volume stood at 4,85,455 shares. The 52-week high of the shares is $44.725 and the 52 week low is $27.8. The company has a current market capitalization of $2,247 M and it has 6,17,98,245 shares in outstanding.

Steven Madden Ltd.(SHOO) last announced its earnings results on Feb 24, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $344.25M. Analysts had an estimated revenue of $344.22M. Earnings per share were $0.43. Analysts had estimated an EPS of $0.43.

Several Insider Transactions has been reported to the SEC. On Mar 23, 2016, Richard P Randall (director) sold 1,000 shares at $38.00 per share price.Also, On Mar 18, 2016, Edward R. Rosenfeld (CEO and Chairman of the Board) sold 26,000 shares at $37.40 per share price.On Mar 4, 2016, Amelia Varela (President) sold 15,000 shares at $34.96 per share price, according to the Form-4 filing with the securities and exchange commission.

Steven Madden Ltd. designs sources markets and sells name brand and private label footwear for women men and children. It operates under five segments which include Wholesale Footwear Wholesale Accessories Retail First Cost and Licensing. Its 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. Its products are marketed through its retail stores and e-commerce Websites as well as department stores specialty stores luxury retailers value priced retailers national chains merchants and catalog retailers throughout the United States Canada Mexico and South Africa. In addition it markets its products in Asia Australia Europe India the Middle East South and Central America and New Zealand. The Company’s subsidiaries include Steven Madden Retail Inc. and BA Brand Holdings LLC among others.

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