Steven Madden, Ltd. (SHOO) Lowered to “Hold” at ValuEngine
ValuEngine lowered shares of Steven Madden, Ltd. (NASDAQ:SHOO) from a buy rating to a hold rating in a research report report published on Thursday morning.
A number of other brokerages also recently commented on SHOO. Zacks Investment Research downgraded Steven Madden from a buy rating to a hold rating in a research report on Wednesday, September 20th. Piper Jaffray Companies reissued a buy rating and set a $44.00 target price on shares of Steven Madden in a research note on Wednesday, July 26th. Canaccord Genuity set a $47.00 target price on Steven Madden and gave the stock a buy rating in a research note on Tuesday, August 15th. Telsey Advisory Group raised their target price on Steven Madden from $41.00 to $45.00 and gave the stock an outperform rating in a research note on Wednesday, August 2nd. Finally, B. Riley reissued a buy rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, July 28th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $43.96.
Steven Madden (SHOO) traded up 0.23% during trading on Thursday, hitting $42.70. The stock had a trading volume of 279,424 shares. The company has a market cap of $2.53 billion, a PE ratio of 20.56 and a beta of 0.51. Steven Madden has a 12 month low of $32.30 and a 12 month high of $43.80. The company’s 50 day moving average is $42.05 and its 200-day moving average is $39.66.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.06. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The firm had revenue of $374.15 million for the quarter, compared to the consensus estimate of $355.22 million. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts predict that Steven Madden will post $2.25 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the company. 1060 Capital LLC acquired a new stake in shares of Steven Madden in the second quarter valued at $24,372,000. Nicholas Investment Partners LP acquired a new stake in shares of Steven Madden in the first quarter valued at $1,958,000. Jennison Associates LLC grew its stake in shares of Steven Madden by 0.4% in the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after buying an additional 44 shares in the last quarter. Royce & Associates LP grew its stake in shares of Steven Madden by 14.3% in the second quarter. Royce & Associates LP now owns 667,480 shares of the textile maker’s stock valued at $26,666,000 after buying an additional 83,552 shares in the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of Steven Madden by 63.4% in the second quarter. Prudential Financial Inc. now owns 255,446 shares of the textile maker’s stock valued at $10,205,000 after buying an additional 99,150 shares in the last quarter. 91.32% of the stock is owned by institutional investors and hedge funds.
About Steven Madden
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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