Steven Madden (NASDAQ:SHOO) Raised to Buy at StockNews.com

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

Other analysts have also issued research reports about the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Citigroup boosted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Piper Sandler restated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.43.

Steven Madden Trading Up 0.2 %

NASDAQ:SHOO opened at $42.83 on Thursday. Steven Madden has a twelve month low of $37.99 and a twelve month high of $50.01. The company has a market capitalization of $3.09 billion, a P/E ratio of 18.23 and a beta of 1.07. The firm has a 50-day moving average price of $44.93 and a two-hundred day moving average price of $44.67.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.88 EPS. On average, equities research analysts predict that Steven Madden will post 2.66 earnings per share for the current year.

Institutional Trading of Steven Madden

Several institutional investors have recently made changes to their positions in the stock. FMR LLC grew its holdings in shares of Steven Madden by 8,180.4% during the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock worth $26,214,000 after purchasing an additional 528,619 shares during the period. Geode Capital Management LLC increased its position in shares of Steven Madden by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock worth $83,812,000 after acquiring an additional 49,075 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Steven Madden in the 3rd quarter valued at $2,614,000. Systematic Financial Management LP raised its stake in shares of Steven Madden by 15.9% in the 3rd quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock valued at $21,513,000 after acquiring an additional 60,276 shares during the period. Finally, Nicholas Investment Partners LP purchased a new stake in Steven Madden during the 2nd quarter worth $4,863,000. 99.88% of the stock is owned by hedge funds and other institutional investors.

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.