Steven Madden (NASDAQ:SHOO) Stock Rating Lowered by StockNews.com

Steven Madden (NASDAQ:SHOO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Sunday.

Several other analysts have also commented on the company. Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Wednesday, November 13th. Citigroup lifted their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Piper Sandler restated a “neutral” rating and set a $45.00 price objective on shares of Steven Madden in a research report on Friday, August 23rd. Needham & Company LLC started coverage on Steven Madden in a research report on Friday. They issued a “hold” rating on the stock. Finally, Wedbush restated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $45.43.

Steven Madden Price Performance

Shares of SHOO stock opened at $45.41 on Friday. Steven Madden has a 1 year low of $36.56 and a 1 year high of $50.01. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.32 and a beta of 1.08. The business has a fifty day moving average of $46.28 and a 200 day moving average of $44.47.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock valued at $35,000 after acquiring an additional 825 shares during the last quarter. Gladius Capital Management LP purchased a new position in Steven Madden in the third quarter valued at approximately $36,000. Exchange Traded Concepts LLC acquired a new stake in Steven Madden during the third quarter worth approximately $59,000. GAMMA Investing LLC lifted its position in 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 acquiring an additional 593 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 1,872 shares during the period. Institutional investors and hedge funds 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.