StockNews.com Upgrades Steven Madden (NASDAQ:SHOO) to Buy

Steven Madden (NASDAQ:SHOO) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities analysts have also recently issued reports about the company. Telsey Advisory Group reiterated a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a report on Wednesday. Citigroup raised their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Wedbush restated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $45.00 price objective on shares of Steven Madden in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $45.43.

Steven Madden Stock Performance

NASDAQ SHOO opened at $43.23 on Friday. The business has a fifty day moving average price of $46.43 and a 200 day moving average price of $44.30. Steven Madden has a one year low of $35.64 and a one year high of $50.01. The company has a market cap of $3.12 billion, a P/E ratio of 18.40 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. The business had revenue of $624.68 million during 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 company’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. As a group, sell-side analysts predict that Steven Madden will post 2.65 EPS for the current fiscal year.

Institutional Trading of Steven Madden

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Steven Madden by 286.9% during the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after acquiring an additional 103,226 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of Steven Madden during the third quarter valued at $12,558,000. State Street Corp boosted its stake in shares of Steven Madden by 1.7% during the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock valued at $135,020,000 after acquiring an additional 47,017 shares during the last quarter. Systematic Financial Management LP boosted its stake in shares of Steven Madden by 15.9% during the third quarter. Systematic Financial Management LP now owns 439,126 shares of the textile maker’s stock valued at $21,513,000 after acquiring an additional 60,276 shares during the last quarter. Finally, Petrus Trust Company LTA boosted its stake in shares of Steven Madden by 95.4% during the third quarter. Petrus Trust Company LTA now owns 14,058 shares of the textile maker’s stock valued at $689,000 after acquiring an additional 6,864 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Company Profile

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.