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

Steven Madden (NASDAQ:SHOO) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

Other equities research analysts have also issued research reports about the company. Citigroup raised their price target 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 reiterated a “hold” rating on shares of Steven Madden in a report on Thursday, December 5th. Finally, Telsey Advisory Group reissued a “market perform” rating and set 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 one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $46.33.

Steven Madden Price Performance

Shares of SHOO stock opened at $41.19 on Tuesday. The stock has a 50-day moving average of $43.32 and a 200-day moving average of $44.45. Steven Madden has a one year low of $37.99 and a one year high of $50.01. The stock has a market cap of $2.97 billion, a PE ratio of 17.53 and a beta of 1.08.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP acquired a new stake in shares of Steven Madden in the third quarter valued at about $36,000. Exchange Traded Concepts LLC bought a new position in Steven Madden in the third quarter valued at approximately $59,000. GAMMA Investing LLC increased its position in shares of Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after purchasing an additional 593 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after purchasing an additional 785 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after buying an additional 1,872 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

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.