Needham & Company LLC Reaffirms Hold Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “hold” rating restated by Needham & Company LLC in a report released on Thursday,Benzinga reports.

Other equities research analysts have also recently issued reports about the company. Telsey Advisory Group reiterated a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Wednesday, November 13th. Wedbush reaffirmed a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Citigroup lifted their target price on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a report on Friday, August 23rd. Finally, StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Sunday, November 24th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $45.43.

Steven Madden Price Performance

Shares of SHOO opened at $44.74 on Thursday. The business’s fifty day moving average price is $45.77 and its 200 day moving average price is $44.64. Steven Madden has a 12-month low of $37.99 and a 12-month high of $50.01. The stock has a market capitalization of $3.23 billion, a PE ratio of 19.04 and a beta of 1.07.

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

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after buying an additional 825 shares during the period. Gladius Capital Management LP bought a new stake in shares of Steven Madden during the third quarter valued at approximately $36,000. Exchange Traded Concepts LLC bought a new stake in shares of Steven Madden during the third quarter valued at approximately $59,000. GAMMA Investing LLC increased its position 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 valued at $65,000 after purchasing an additional 593 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of Steven Madden by 4,800.0% during the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 1,872 shares during the period. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

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.