Steven Madden, Ltd. (NASDAQ:SHOO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, October 18th.
According to Zacks, “Steven Madden, Ltd. designs, sources, markets and sells fashion-forward footwear brands for women, men and children. They distribute products through their retail stores, their e-commerce websites, catalogs and department and specialty store “
A number of other analysts have also weighed in on the stock. ValuEngine lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. BidaskClub lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, August 22nd. Canaccord Genuity set a $47.00 price objective on Steven Madden and gave the company a “buy” rating in a report on Tuesday, August 15th. Wedbush began coverage on Steven Madden in a report on Monday, August 14th. They issued an “outperform” rating and a $48.00 price objective for the company. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $45.00 price objective (up from $41.00) on shares of Steven Madden in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $43.96.
Steven Madden (NASDAQ:SHOO) traded down $0.30 during midday trading on Wednesday, reaching $38.10. 531,423 shares of the company’s stock were exchanged, compared to its average volume of 563,141. Steven Madden has a 52 week low of $33.50 and a 52 week high of $44.40. The firm has a market capitalization of $2,282.92, a PE ratio of 17.14, a P/E/G ratio of 1.44 and a beta of 0.48.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The company had revenue of $441.19 million for the quarter, compared to analyst estimates of $441.03 million. During the same period in the prior year, the firm earned $0.74 earnings per share. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. sell-side analysts expect that Steven Madden will post 2.22 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. 1060 Capital LLC acquired a new position in Steven Madden during the second quarter worth approximately $24,372,000. Jennison Associates LLC increased its position in Steven Madden by 0.4% during the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock worth $473,000 after buying an additional 44 shares during the last quarter. Prudential Financial Inc. increased its position in Steven Madden by 63.4% during the second quarter. Prudential Financial Inc. now owns 255,446 shares of the textile maker’s stock worth $10,205,000 after buying an additional 99,150 shares during the last quarter. Royce & Associates LP increased its position in Steven Madden by 14.3% during the second quarter. Royce & Associates LP now owns 667,480 shares of the textile maker’s stock worth $26,666,000 after buying an additional 83,552 shares during the last quarter. Finally, Aperio Group LLC increased its position in Steven Madden by 12.1% during the second quarter. Aperio Group LLC now owns 21,467 shares of the textile maker’s stock worth $858,000 after buying an additional 2,316 shares during the last quarter. 90.90% of the stock is currently owned by institutional investors and hedge funds.
About Steven Madden
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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