Zacks Investment Research lowered shares of Steven Madden, Ltd. (NASDAQ:SHOO) from a buy rating to a hold rating in a research report released on Wednesday.
According to Zacks, “Steven Madden, Ltd. designs, sources, markets and sells fashion-forward footwear brands for women, men and children. They distribute products through their retail stores, their e-commerce websites, catalogs and department and specialty store “
A number of other research analysts also recently weighed in on the stock. ValuEngine raised shares of Steven Madden from a hold rating to a buy rating in a research report on Friday, September 1st. Canaccord Genuity set a $45.00 target price on shares of Steven Madden and gave the company a buy rating in a research report on Friday, May 26th. Piper Jaffray Companies set a $41.00 target price on shares of Steven Madden and gave the company a buy rating in a research report on Wednesday, May 31st. BidaskClub raised shares of Steven Madden from a hold rating to a buy rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley raised their target price on shares of Steven Madden from $38.00 to $41.50 and gave the company an equal weight rating in a research report on Monday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Steven Madden has an average rating of Buy and a consensus price target of $44.04.
Shares of Steven Madden (SHOO) opened at 41.85 on Wednesday. Steven Madden has a one year low of $32.30 and a one year high of $43.80. The company has a 50-day moving average of $41.95 and a 200-day moving average of $39.28. The company has a market capitalization of $2.48 billion, a PE ratio of 20.15 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last released its earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $374.15 million during the quarter, compared to the consensus estimate of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The firm’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share. On average, analysts anticipate that Steven Madden will post $2.25 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the company. 1060 Capital LLC bought a new position in shares of Steven Madden in the 2nd quarter valued at about $24,372,000. Nicholas Investment Partners LP bought a new position in shares of Steven Madden in the 1st quarter valued at about $1,958,000. Rothschild Asset Management Inc. grew its position in shares of Steven Madden by 0.5% in the 1st quarter. Rothschild Asset Management Inc. now owns 485,208 shares of the textile maker’s stock valued at $18,705,000 after acquiring an additional 2,500 shares during the period. Jennison Associates LLC grew its position in shares of Steven Madden by 0.4% in the 2nd quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after acquiring an additional 44 shares during the period. Finally, Royce & Associates LP grew its position in shares of Steven Madden by 14.3% in the 2nd quarter. Royce & Associates LP now owns 667,480 shares of the textile maker’s stock valued at $26,666,000 after acquiring an additional 83,552 shares during the period. 91.34% of the stock is owned by institutional investors.
Steven Madden Company Profile
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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