Steven Madden (NASDAQ:SHOO) Rating Lowered to Hold at StockNews.com

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

SHOO has been the topic of several other research reports. Citigroup increased their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. 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, the stock currently has an average rating of “Hold” and an average target price of $45.43.

Steven Madden Stock Down 0.5 %

NASDAQ:SHOO opened at $42.33 on Friday. Steven Madden has a 52 week low of $37.99 and a 52 week high of $50.01. The company has a market cap of $3.06 billion, a PE ratio of 18.01 and a beta of 1.07. The business’s 50 day moving average is $44.23 and its two-hundred day moving average is $44.59.

Steven Madden (NASDAQ:SHOO) last announced 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. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. During the same period last year, the business posted $0.88 earnings per share. The firm’s revenue for the quarter was up 13.0% on a year-over-year basis. As a group, sell-side analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. FMR LLC lifted its holdings in Steven Madden by 8,180.4% in the 3rd quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after acquiring an additional 528,619 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Steven Madden during the third quarter valued at approximately $12,558,000. Nicholas Investment Partners LP bought a new stake in Steven Madden during the second quarter worth approximately $4,863,000. Squarepoint Ops LLC acquired a new position in Steven Madden in the second quarter worth approximately $4,550,000. Finally, Barclays PLC increased its holdings in shares of Steven Madden by 286.9% in the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after buying an additional 103,226 shares in the last quarter. 99.88% of the stock is owned by institutional investors and hedge funds.

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.