Zacks Research Upgrades Steven Madden (NASDAQ:SHOO) to “Strong-Buy”

Steven Madden (NASDAQ:SHOO) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other research firms also recently commented on SHOO. Wall Street Zen upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Saturday, June 6th. BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday, June 4th. Needham & Company LLC lifted their price target on shares of Steven Madden from $45.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, June 12th. UBS Group restated a “neutral” rating and set a $40.00 price objective (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.12.

Steven Madden Price Performance

SHOO stock opened at $39.89 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.23 and a quick ratio of 1.42. The company’s 50-day moving average is $41.66 and its 200-day moving average is $39.94. The stock has a market capitalization of $2.92 billion, a PE ratio of 37.99 and a beta of 1.15. Steven Madden has a 1 year low of $22.26 and a 1 year high of $47.10.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, May 6th. The textile maker reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.The business had revenue of $653.10 million during the quarter, compared to analyst estimates of $646.64 million. During the same period in the previous year, the company posted $0.60 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. Equities research analysts expect that Steven Madden will post 2.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Steven Madden news, Director Arian Simone Reed sold 648 shares of Steven Madden stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $39.97, for a total transaction of $25,900.56. Following the transaction, the director directly owned 8,057 shares of the company’s stock, valued at $322,038.29. The trade was a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christina Ciglar sold 5,147 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $44.74, for a total transaction of $230,276.78. Following the completion of the sale, the insider owned 35,200 shares of the company’s stock, valued at approximately $1,574,848. The trade was a 12.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 6,270 shares of company stock valued at $276,992 over the last three months. 2.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its stake in Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after buying an additional 485 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Steven Madden in the 4th quarter worth approximately $30,000. Global Retirement Partners LLC boosted its stake in shares of Steven Madden by 1,064.3% in the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock worth $34,000 after buying an additional 745 shares during the last quarter. First Horizon Corp grew its holdings in shares of Steven Madden by 55.1% in the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after acquiring an additional 317 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Steven Madden by 79.4% in the fourth quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock valued at $41,000 after acquiring an additional 435 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other 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.