Steven Madden (NASDAQ:SHOO) Reaches New 52-Week High – Should You Buy?

Steven Madden, Ltd. (NASDAQ:SHOO) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $46.88 and last traded at $45.48, with a volume of 189691 shares trading hands. The stock had previously closed at $45.66.

Analyst Ratings Changes

Several equities research analysts recently commented on SHOO shares. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Wednesday. Citigroup reaffirmed a “buy” rating and issued a $41.00 price objective (up previously from $32.00) on shares of Steven Madden in a research note on Friday, October 17th. Telsey Advisory Group reiterated an “outperform” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Thursday. Piper Sandler raised their target price on Steven Madden from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, UBS Group reiterated a “neutral” rating and set a $43.00 price target on shares of Steven Madden in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $43.63.

Steven Madden Price Performance

The firm has a market cap of $2.51 billion, a P/E ratio of 43.75 and a beta of 1.11. The stock’s 50-day moving average is $43.68 and its 200-day moving average is $36.04. The company has a quick ratio of 1.08, a current ratio of 1.91 and a debt-to-equity ratio of 0.33.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). The company had revenue of $667.88 million during the quarter, compared to analyst estimates of $697.89 million. Steven Madden had a return on equity of 14.28% and a net margin of 2.38%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. As a group, equities analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current fiscal year.

Institutional Trading of Steven Madden

Several institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its stake in shares of Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after purchasing an additional 485 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Steven Madden in the 3rd quarter valued at $31,000. First Horizon Corp raised its stake in shares of Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after buying an additional 317 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Steven Madden by 79.4% during the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock worth $41,000 after acquiring an additional 435 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Steven Madden by 616.8% during the 3rd quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock worth $72,000 after acquiring an additional 1,838 shares during the period. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.