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

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

Several other brokerages also recently weighed in on SHOO. Piper Sandler reiterated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Citigroup increased their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Stock Up 0.4 %

SHOO traded up $0.15 during trading on Thursday, hitting $42.74. 796,332 shares of the stock were exchanged, compared to its average volume of 707,820. The firm has a market capitalization of $3.09 billion, a P/E ratio of 18.19 and a beta of 1.07. Steven Madden has a 1-year low of $37.99 and a 1-year high of $50.01. The stock has a fifty day moving average price of $44.93 and a two-hundred day moving average price of $44.67.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The company’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 EPS. Analysts predict that Steven Madden will post 2.66 EPS for the current year.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC increased its holdings in shares of 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 purchasing an additional 528,619 shares in the last quarter. Weiss Asset Management LP purchased a new position in Steven Madden in the third quarter valued at about $12,558,000. Nicholas Investment Partners LP acquired a new stake in shares of Steven Madden during the 2nd quarter valued at approximately $4,863,000. Squarepoint Ops LLC purchased a new stake in shares of Steven Madden during the 2nd quarter worth approximately $4,550,000. Finally, Barclays PLC boosted its stake in shares of Steven Madden by 286.9% during the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after acquiring an additional 103,226 shares in 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.