Steven Madden (NASDAQ:SHOO) Downgraded by StockNews.com to “Hold”

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

SHOO has been the topic of a number of other research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. Citigroup upped their price target 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, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Trading Up 0.6 %

NASDAQ:SHOO opened at $42.53 on Friday. The company has a 50-day moving average of $44.36 and a 200-day moving average of $44.60. Steven Madden has a twelve month low of $37.99 and a twelve month high of $50.01. The firm has a market cap of $3.07 billion, a price-to-earnings ratio of 18.10 and a beta of 1.07.

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

Institutional Investors Weigh In On Steven Madden

Several institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its holdings in Steven Madden by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after buying an additional 5,451 shares during the last quarter. nVerses Capital LLC raised its holdings in shares of Steven Madden by 3,600.0% during the 2nd quarter. nVerses Capital LLC now owns 3,700 shares of the textile maker’s stock valued at $157,000 after purchasing an additional 3,600 shares in the last quarter. Natixis Advisors LLC lifted its stake in shares of Steven Madden by 167.7% in the 2nd quarter. Natixis Advisors LLC now owns 39,580 shares of the textile maker’s stock valued at $1,674,000 after purchasing an additional 24,793 shares during the last quarter. TD Asset Management Inc boosted its holdings in Steven Madden by 6.8% in the second quarter. TD Asset Management Inc now owns 98,300 shares of the textile maker’s stock worth $4,158,000 after purchasing an additional 6,300 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Steven Madden by 190.5% during the second quarter. Los Angeles Capital Management LLC now owns 40,321 shares of the textile maker’s stock worth $1,706,000 after buying an additional 26,443 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.