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

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

A number of other brokerages have also recently weighed in on SHOO. Telsey Advisory Group reiterated a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. Citigroup upped their target price on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.43.

Steven Madden Stock Performance

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

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

Institutional Investors Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently made changes to their positions in SHOO. Gladius Capital Management LP bought a new stake in Steven Madden during the 3rd quarter worth about $36,000. Exchange Traded Concepts LLC acquired a new stake in shares of Steven Madden during the 3rd quarter worth approximately $59,000. GAMMA Investing LLC raised its stake in shares of Steven Madden by 80.6% during the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after buying an additional 593 shares during the last quarter. Blue Trust Inc. lifted its holdings 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 buying an additional 785 shares during the period. Finally, International Assets Investment Management LLC boosted its stake 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 acquiring an additional 1,872 shares during the last quarter. 99.88% of the stock is 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.