BidaskClub Downgrades Steven Madden (NASDAQ:SHOO) to Sell

Steven Madden (NASDAQ:SHOO) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, BidAskClub reports.

Several other research analysts have also issued reports on the stock. Canaccord Genuity set a $107.00 target price on shares of Columbia Sportswear and gave the company a “hold” rating in a research note on Friday, April 26th. Piper Jaffray Companies set a $9.00 target price on shares of FTS International and gave the company a “buy” rating in a research note on Tuesday, May 14th. Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. B. Riley reissued a “buy” rating on shares of Skechers USA in a research note on Friday, April 26th. Finally, ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Steven Madden presently has a consensus rating of “Hold” and an average target price of $35.23.

Shares of NASDAQ SHOO opened at $32.90 on Friday. The company has a market cap of $2.75 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.94 and a beta of 0.82. Steven Madden has a 1 year low of $27.88 and a 1 year high of $39.30. The company has a 50-day simple moving average of $32.19.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, April 25th. The textile maker reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $410.90 million for the quarter, compared to analyst estimates of $404.31 million. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. Analysts predict that Steven Madden will post 1.84 earnings per share for the current fiscal year.

In related news, EVP Michael Paradise sold 2,000 shares of Steven Madden stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total transaction of $71,980.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Garrett Smith sold 9,267 shares of Steven Madden stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $31.00, for a total transaction of $287,277.00. The disclosure for this sale can be found here. Insiders have sold a total of 17,417 shares of company stock worth $567,204 in the last three months. 1.96% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its holdings in Steven Madden by 1,100.0% during the 1st quarter. Quadrant Capital Group LLC now owns 804 shares of the textile maker’s stock worth $26,000 after buying an additional 737 shares during the period. Bessemer Group Inc. acquired a new stake in Steven Madden during the 4th quarter worth approximately $42,000. Valeo Financial Advisors LLC acquired a new stake in Steven Madden during the 1st quarter worth approximately $60,000. Manchester Capital Management LLC acquired a new stake in Steven Madden during the 1st quarter worth approximately $69,000. Finally, Miles Capital Inc. acquired a new stake in Steven Madden during the 1st quarter worth approximately $211,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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