Steven Madden (NASDAQ:SHOO) Rating Lowered to Hold at BidaskClub

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BidaskClub lowered shares of Steven Madden (NASDAQ:SHOO) from a buy rating to a hold rating in a report published on Tuesday, BidAskClub reports.

Several other analysts also recently commented on the company. Telsey Advisory Group upped their price objective on Steven Madden from $36.00 to $40.00 and gave the company a market perform rating in a research note on Wednesday, October 30th. Zacks Investment Research downgraded Steven Madden from a hold rating to a sell rating and set a $43.00 target price on the stock. in a research note on Wednesday, October 30th. Loop Capital boosted their target price on Steven Madden to $45.00 and gave the company a buy rating in a report on Wednesday, October 30th. Finally, ValuEngine cut Steven Madden from a sell rating to a strong sell rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $40.00.

Shares of NASDAQ:SHOO opened at $41.20 on Tuesday. Steven Madden has a 1-year low of $27.88 and a 1-year high of $44.79. The stock has a market cap of $3.57 billion, a P/E ratio of 22.51, a P/E/G ratio of 3.64 and a beta of 0.81. The firm has a fifty day moving average price of $40.65 and a 200 day moving average price of $34.74.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, October 29th. The textile maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.09. Steven Madden had a net margin of 7.71% and a return on equity of 20.01%. The business had revenue of $497.31 million during the quarter, compared to analysts’ expectations of $487.18 million. During the same period in the prior year, the company earned $0.65 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that Steven Madden will post 1.94 earnings per share for the current fiscal year.

In other Steven Madden news, President Amelia Varela sold 6,400 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $44.19, for a total transaction of $282,816.00. Following the sale, the president now directly owns 144,876 shares in the company, valued at approximately $6,402,070.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter Migliorini sold 3,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $36.17, for a total transaction of $108,510.00. Following the transaction, the director now directly owns 11,204 shares in the company, valued at $405,248.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 142,736 shares of company stock valued at $5,898,375. 1.96% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in SHOO. Zebra Capital Management LLC grew its position in Steven Madden by 4.0% during the third quarter. Zebra Capital Management LLC now owns 30,366 shares of the textile maker’s stock worth $1,087,000 after buying an additional 1,156 shares during the period. Barclays PLC grew its holdings in shares of Steven Madden by 168.2% in the 3rd quarter. Barclays PLC now owns 118,793 shares of the textile maker’s stock worth $4,252,000 after acquiring an additional 293,049 shares during the period. Virtu Financial LLC acquired a new stake in shares of Steven Madden in the 3rd quarter worth approximately $232,000. RDA Financial Network purchased a new position in Steven Madden in the 3rd quarter valued at approximately $245,000. Finally, Systematic Financial Management LP increased its stake in Steven Madden by 4.6% in the 3rd quarter. Systematic Financial Management LP now owns 475,634 shares of the textile maker’s stock valued at $17,023,000 after purchasing an additional 20,953 shares in the last quarter. Hedge funds and other institutional investors own 99.21% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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