Steven Madden (NASDAQ:SHOO) Upgraded at Zacks Research

Steven Madden (NASDAQ:SHOO) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other brokerages have also commented on SHOO. Telsey Advisory Group reiterated an “outperform” rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday, February 26th. UBS Group restated a “neutral” rating on shares of Steven Madden in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price on the stock. in a report on Thursday, February 5th. Finally, Needham & Company LLC decreased their price target on Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Steven Madden presently has an average rating of “Hold” and a consensus price target of $44.00.

Steven Madden Stock Performance

Steven Madden stock opened at $38.18 on Wednesday. The business has a 50 day moving average of $35.97 and a 200-day moving average of $38.35. The company has a market capitalization of $2.79 billion, a P/E ratio of 61.58 and a beta of 1.13. Steven Madden has a 1 year low of $19.06 and a 1 year high of $46.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.90 and a quick ratio of 1.11.

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

Insider Transactions at Steven Madden

In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the company’s stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total transaction of $120,384.00. Following the sale, the director owned 8,705 shares of the company’s stock, valued at approximately $291,095.20. This represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Scopus Asset Management L.P. bought a new stake in shares of Steven Madden during the 3rd quarter valued at about $36,451,000. Boston Partners acquired a new position in Steven Madden in the third quarter valued at approximately $33,319,000. Invesco Ltd. lifted its stake in Steven Madden by 50.5% in the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock valued at $58,198,000 after buying an additional 814,318 shares during the period. Neumeier Poma Investment Counsel LLC boosted its holdings in shares of Steven Madden by 155.9% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock worth $31,974,000 after buying an additional 581,745 shares in the last quarter. Finally, Millennium Management LLC grew its position in shares of Steven Madden by 1,170.4% during the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock worth $16,438,000 after buying an additional 568,477 shares during the period. 99.88% of the stock is owned by institutional investors.

About Steven Madden

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.