ValuEngine lowered shares of Steven Madden, Ltd. (NASDAQ:SHOO) from a buy rating to a hold rating in a research note published on Thursday, October 5th.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Steven Madden from a hold rating to a buy rating and set a $47.00 price objective for the company in a research report on Friday, September 1st. Piper Jaffray Companies reissued a buy rating and issued a $45.00 price target on shares of Steven Madden in a research report on Thursday, August 3rd. BidaskClub raised shares of Steven Madden from a hold rating to a buy rating in a research report on Wednesday, July 5th. Finally, Morgan Stanley lifted their price objective on shares of Steven Madden from $38.00 to $41.50 and gave the company an equal weight rating in a research note on Monday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $43.96.
Steven Madden (SHOO) opened at 41.15 on Thursday. Steven Madden has a 52 week low of $32.30 and a 52 week high of $43.80. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 19.81 and a beta of 0.51. The firm has a 50-day moving average price of $42.21 and a 200-day moving average price of $39.85.
Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. The company had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The firm’s revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 EPS. Analysts anticipate that Steven Madden will post $2.25 EPS for the current fiscal year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Riverhead Capital Management LLC lifted its stake in shares of Steven Madden by 97.1% during the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,262 shares during the period. Meeder Asset Management Inc. acquired a new position in Steven Madden during the second quarter worth approximately $127,000. First Mercantile Trust Co. increased its position in Steven Madden by 1.7% during the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock worth $143,000 after purchasing an additional 60 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Steven Madden by 9.7% during the first quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock worth $176,000 after purchasing an additional 403 shares during the last quarter. Finally, IFP Advisors Inc increased its position in Steven Madden by 3,804.2% during the second quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock worth $184,000 after purchasing an additional 4,489 shares during the last quarter. 91.32% 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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