Steven Madden (NASDAQ:SHOO) Upgraded by StockNews.com to “Buy” Rating

Steven Madden (NASDAQ:SHOO) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other analysts also recently weighed in on the company. Telsey Advisory Group restated a “market perform” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Wednesday. Citigroup lifted their price objective on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wedbush restated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $45.43.

Steven Madden Stock Down 1.6 %

NASDAQ SHOO opened at $43.23 on Friday. The company has a fifty day moving average of $46.43 and a two-hundred day moving average of $44.30. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 18.40 and a beta of 1.08. Steven Madden has a 52 week low of $35.64 and a 52 week high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.88 earnings per share. Equities research analysts anticipate that Steven Madden will post 2.65 EPS for the current year.

Institutional Investors Weigh In On Steven Madden

Several hedge funds have recently bought and sold shares of SHOO. Blue Trust Inc. lifted its position in shares of Steven Madden by 9,166.7% during the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after buying an additional 825 shares in the last quarter. Gladius Capital Management LP purchased a new position in shares of Steven Madden during the 3rd quarter valued at approximately $36,000. Exchange Traded Concepts LLC purchased a new position in shares of Steven Madden during the 3rd quarter valued at approximately $59,000. GAMMA Investing LLC lifted its position in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after buying an additional 593 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Steven Madden during the 1st quarter valued at approximately $81,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

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.