Steven Madden (NASDAQ:SHOO) Stock Rating Upgraded by StockNews.com

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

Other equities analysts have also recently issued reports about the company. Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. Piper Sandler restated a “neutral” rating and issued a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Citigroup lifted 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Seven analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.43.

Steven Madden Stock Up 0.2 %

SHOO opened at $42.83 on Thursday. The firm has a market capitalization of $3.09 billion, a P/E ratio of 18.23 and a beta of 1.07. The firm’s 50 day moving average is $44.93 and its 200-day moving average is $44.67. Steven Madden has a 52-week low of $37.99 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued 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 firm had revenue of $624.68 million for the quarter, compared to analyst estimates 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 was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. Equities analysts expect that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in Steven Madden by 1.7% in the 3rd quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock valued at $135,020,000 after acquiring an additional 47,017 shares during the period. Geode Capital Management LLC raised its stake in shares of Steven Madden by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after purchasing an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Steven Madden by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock worth $53,731,000 after purchasing an additional 32,696 shares during the period. Bank of New York Mellon Corp grew its position in Steven Madden by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock valued at $36,957,000 after buying an additional 5,451 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in Steven Madden by 0.6% during the 3rd quarter. Fisher Asset Management LLC now owns 728,674 shares of the textile maker’s stock valued at $35,698,000 after buying an additional 4,108 shares during the period. 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.