Steven Madden (NASDAQ:SHOO) Now Covered by Needham & Company LLC

Equities research analysts at Needham & Company LLC assumed coverage on shares of Steven Madden (NASDAQ:SHOO) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage set a “hold” rating on the textile maker’s stock.

A number of other equities analysts also recently weighed in on SHOO. Wedbush reissued a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a research report on Wednesday, August 7th. Piper Sandler reissued a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a research report on Friday, August 23rd. Telsey Advisory Group reissued a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Saturday, November 16th. Finally, Citigroup boosted their price objective on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $45.43.

Steven Madden Stock Performance

NASDAQ:SHOO opened at $42.90 on Friday. The stock’s 50-day simple moving average is $46.33 and its 200 day simple moving average is $44.37. The company has a market cap of $3.10 billion, a P/E ratio of 18.26 and a beta of 1.08. Steven Madden has a 52-week low of $36.56 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business’s revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, equities analysts predict that Steven Madden will post 2.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Several institutional investors have recently made changes to their positions in SHOO. FMR LLC boosted its stake in shares of Steven Madden by 8,180.4% in the third quarter. FMR LLC now owns 535,081 shares of the textile maker’s stock valued at $26,214,000 after buying an additional 528,619 shares during the period. Weiss Asset Management LP bought a new stake in Steven Madden during the third quarter worth $12,558,000. Nicholas Investment Partners LP bought a new stake in Steven Madden during the second quarter worth $4,863,000. Squarepoint Ops LLC bought a new stake in Steven Madden during the second quarter worth $4,550,000. Finally, Barclays PLC lifted its stake in Steven Madden by 286.9% during the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock worth $6,819,000 after purchasing an additional 103,226 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors.

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.