Steven Madden, Ltd. (SHOO) Downgraded by Zacks Investment Research
Steven Madden, Ltd. (NASDAQ:SHOO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Steven Madden, Ltd. designs, sources, markets and sells fashion-forward footwear brands for women, men and children. They distribute products through their retail stores, their e-commerce websites, catalogs and department and specialty store “
A number of other equities analysts also recently commented on SHOO. Canaccord Genuity set a $45.00 price objective on Steven Madden and gave the stock a “buy” rating in a report on Friday, May 26th. Piper Jaffray Companies set a $41.00 price objective on Steven Madden and gave the stock a “buy” rating in a report on Wednesday, May 31st. Morgan Stanley raised their price objective on Steven Madden from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Jefferies Group LLC restated a “hold” rating and issued a $37.00 price objective on shares of Steven Madden in a report on Friday, June 16th. Finally, BidaskClub upgraded Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, July 5th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $43.96.
Steven Madden (NASDAQ:SHOO) opened at 42.40 on Wednesday. Steven Madden has a 52-week low of $32.30 and a 52-week high of $43.80. The firm has a 50-day moving average price of $41.95 and a 200 day moving average price of $39.28. The firm has a market capitalization of $2.51 billion, a P/E ratio of 20.41 and a beta of 0.51.
Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The company had revenue of $374.15 million for the quarter, compared to the consensus estimate of $355.22 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same period last year, the business posted $0.42 EPS. Analysts forecast that Steven Madden will post $2.25 EPS for the current year.
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Large investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC raised its holdings in shares of Steven Madden by 97.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,262 shares during the period. Elkfork Partners LLC raised its holdings in shares of Steven Madden by 17.5% during the 1st quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock valued at $103,000 after buying an additional 396 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Steven Madden during the 2nd quarter valued at about $127,000. Meadow Creek Investment Management LLC raised its holdings in shares of Steven Madden by 17.5% during the 1st quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock valued at $131,000 after buying an additional 504 shares during the period. Finally, First Mercantile Trust Co. raised its holdings in shares of Steven Madden by 1.7% during the 2nd quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 91.34% of the company’s stock.
Steven Madden Company Profile
Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.
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