Steven Madden (NASDAQ:SHOO) Downgraded to “Strong Sell” Rating by Zacks Research

Steven Madden (NASDAQ:SHOO) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other analysts have also recently issued reports about the company. UBS Group reissued a “neutral” rating on shares of Steven Madden in a research note on Monday, February 23rd. Williams Trading set a $48.00 price target on shares of Steven Madden in a report on Tuesday. Needham & Company LLC lowered their price objective on shares of Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Jefferies Financial Group lowered shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a report on Thursday, February 5th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Thursday, February 26th. Five equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus target price of $44.00.

Steven Madden Stock Performance

SHOO stock opened at $34.04 on Tuesday. Steven Madden has a 1-year low of $19.05 and a 1-year high of $46.88. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.48 billion, a PE ratio of 54.90 and a beta of 1.13. The business’s 50-day moving average price is $40.55 and its two-hundred day moving average price is $37.90.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.02. The company had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 earnings per share. As a group, research analysts forecast that Steven Madden will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently made changes to their positions in the business. MidFirst Bank acquired a new stake in shares of Steven Madden in the fourth quarter valued at approximately $217,000. Invesco Ltd. lifted its position in shares of Steven Madden by 15.2% in the fourth quarter. Invesco Ltd. now owns 2,784,943 shares of the textile maker’s stock worth $115,965,000 after purchasing an additional 367,459 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in Steven Madden during the fourth quarter worth $214,000. Summit Global Investments acquired a new position in Steven Madden during the fourth quarter worth $212,000. Finally, EP Wealth Advisors LLC bought a new position in Steven Madden in the fourth quarter valued at $390,000. 99.88% of the stock is owned by institutional investors.

Steven Madden Company Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.