Steven Madden (NASDAQ:SHOO) Earns “Hold” Rating from Needham & Company LLC

Steven Madden (NASDAQ:SHOO)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Thursday,Benzinga reports.

SHOO has been the subject of a number of other reports. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Citigroup raised their price target on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research note on Wednesday, November 13th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Sunday, November 24th. Finally, Wedbush reissued a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Trading Down 0.4 %

Shares of Steven Madden stock opened at $45.81 on Thursday. Steven Madden has a 1 year low of $37.99 and a 1 year high of $50.01. The stock has a 50-day moving average price of $45.97 and a 200 day moving average price of $44.61. The company has a market cap of $3.31 billion, a P/E ratio of 19.49 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last posted its quarterly 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 return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same period last year, the business earned $0.88 EPS. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities analysts forecast that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. FMR LLC grew 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 buying an additional 528,619 shares during the last quarter. Weiss Asset Management LP acquired a new stake in Steven Madden in the 3rd quarter valued at approximately $12,558,000. Nicholas Investment Partners LP acquired a new stake in Steven Madden in the 2nd quarter valued at approximately $4,863,000. Squarepoint Ops LLC acquired a new stake in Steven Madden in the 2nd quarter valued at approximately $4,550,000. Finally, Barclays PLC grew its holdings in Steven Madden by 286.9% in the 3rd 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 during the last quarter. 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.