Steven Madden’s (SHOO) “Hold” Rating Reaffirmed at Needham & Company LLC

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

SHOO has been the subject of several other research reports. StockNews.com cut Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Citigroup lowered their price objective on Steven Madden from $45.00 to $38.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 4th. Telsey Advisory Group reduced their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research report on Thursday. Piper Sandler decreased their price target on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 4th. Finally, Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $42.00.

Steven Madden Stock Performance

SHOO opened at $34.84 on Thursday. Steven Madden has a twelve month low of $34.56 and a twelve month high of $50.01. The business has a 50 day moving average price of $40.46 and a 200 day moving average price of $43.63. The firm has a market cap of $2.52 billion, a P/E ratio of 14.83 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. As a group, analysts anticipate that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Institutional investors and hedge funds have recently made changes to their positions in the company. Creative Planning grew its stake in Steven Madden by 25.2% during the third quarter. Creative Planning now owns 13,507 shares of the textile maker’s stock worth $662,000 after buying an additional 2,716 shares during the last quarter. Blue Trust Inc. grew its position in Steven Madden by 94.1% during the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after acquiring an additional 785 shares during the last quarter. Raymond James & Associates increased its holdings in Steven Madden by 3.6% during the 3rd quarter. Raymond James & Associates now owns 114,484 shares of the textile maker’s stock valued at $5,609,000 after purchasing an additional 3,962 shares in the last quarter. International Assets Investment Management LLC raised its position in Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock valued at $94,000 after purchasing an additional 1,872 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Steven Madden in the third quarter worth $205,000. 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.