Steven Madden (NASDAQ:SHOO) Earns Hold Rating from Needham & Company LLC

Steven Madden (NASDAQ:SHOO)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

A number of other analysts have also recently weighed in on the company. Piper Sandler dropped their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Tuesday. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Telsey Advisory Group lowered their price target on shares of Steven Madden from $50.00 to $44.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, Citigroup cut their price objective on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Steven Madden has an average rating of “Hold” and a consensus price target of $43.33.

Steven Madden Price Performance

Steven Madden stock opened at $37.60 on Thursday. The company has a market cap of $2.71 billion, a PE ratio of 16.00 and a beta of 1.07. Steven Madden has a 12 month low of $36.88 and a 12 month high of $50.01. The company has a fifty day moving average price of $42.29 and a two-hundred day moving average price of $44.17.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The business had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities research analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Institutional Trading of Steven Madden

Several institutional investors have recently modified their holdings of SHOO. Gladius Capital Management LP acquired a new position in Steven Madden during the third quarter worth about $36,000. R Squared Ltd acquired a new position in shares of Steven Madden in the 4th quarter worth approximately $55,000. Exchange Traded Concepts LLC acquired a new stake in Steven Madden during the third quarter valued at approximately $59,000. GAMMA Investing LLC boosted its holdings in Steven Madden by 80.6% during the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock worth $65,000 after buying an additional 593 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Steven Madden by 94.1% in the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after buying an additional 785 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.