Needham & Company LLC Reiterates “Hold” Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

Several other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Piper Sandler lowered their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Telsey Advisory Group lowered their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Citigroup lowered their target price on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $40.33.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $32.79 on Thursday. The company’s 50 day simple moving average is $40.07 and its 200 day simple moving average is $43.49. Steven Madden has a fifty-two week low of $32.31 and a fifty-two week high of $50.01. The firm has a market capitalization of $2.37 billion, a P/E ratio of 13.95 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Sell-side analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Large investors have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new position in Steven Madden in the third quarter valued at $36,000. R Squared Ltd bought a new position in Steven Madden in the fourth quarter valued at $55,000. Quarry LP grew its position in Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 1,110 shares in the last quarter. Blue Trust Inc. grew its position in Steven Madden by 94.1% in the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock valued at $79,000 after purchasing an additional 785 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Steven Madden by 4,800.0% in the third 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 in the last quarter. Institutional investors own 99.88% of the company’s stock.

About Steven Madden

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.