Steven Madden (NASDAQ:SHOO) Stock Price Crosses Above Two Hundred Day Moving Average After Analyst Downgrade

Steven Madden, Ltd. (NASDAQ:SHOO) shares crossed above its two hundred day moving average during trading on Monday after Jefferies Financial Group upgraded the stock from an underperform rating to a hold rating. The stock has a two hundred day moving average of $41.37 and traded as high as $43.55. Jefferies Financial Group now has a $36.00 price target on the stock. Steven Madden shares last traded at $42.84, with a volume of 1,974,104 shares traded.

A number of other analysts also recently commented on the stock. BMO Capital Markets initiated coverage on shares of Steven Madden in a report on Tuesday, September 8th. They issued an “outperform” rating and a $60.00 price objective for the company. Zacks Research cut Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 4th. Needham & Company LLC lowered their target price on Steven Madden from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday. Williams Trading set a $56.00 price target on Steven Madden in a research report on Monday, August 3rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $55.00 price target on shares of Steven Madden in a report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Steven Madden presently has an average rating of “Moderate Buy” and an average price target of $51.70.

Institutional Investors Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently bought and sold shares of SHOO. Dimensional Fund Advisors LP grew its stake in shares of Steven Madden by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker’s stock valued at $79,819,000 after buying an additional 99,066 shares in the last quarter. Neumeier Poma Investment Counsel LLC acquired a new position in Steven Madden during the 2nd quarter worth about $49,890,563. Aberdeen Group plc lifted its stake in Steven Madden by 262.4% during the 3rd quarter. Aberdeen Group plc now owns 1,094,798 shares of the textile maker’s stock worth $49,014,000 after acquiring an additional 792,676 shares in the last quarter. Bank of America Corp DE boosted its holdings in Steven Madden by 4.9% during the 1st quarter. Bank of America Corp DE now owns 751,627 shares of the textile maker’s stock valued at $25,495,000 after acquiring an additional 35,259 shares during the period. Finally, Vise Technologies Inc. purchased a new position in Steven Madden during the 3rd quarter valued at about $29,302,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

Steven Madden Stock Up 8.5%

The company has a market capitalization of $3.14 billion, a PE ratio of 17.70 and a beta of 1.14. The company has a current ratio of 1.91, a quick ratio of 1.13 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $43.67 and a 200 day moving average of $41.37.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 5th. The textile maker reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The company had revenue of $772.61 million for the quarter, compared to analyst estimates of $774.35 million. Steven Madden had a net margin of 5.23% and a return on equity of 13.85%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. Equities research analysts anticipate that Steven Madden, Ltd. will post 2.20 EPS for the current year.

Steven Madden Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Friday, December 11th will be issued a $0.21 dividend. The ex-dividend date is Friday, December 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.0%. Steven Madden’s payout ratio is 34.71%.

About Steven Madden

Steven Madden, Ltd. designs, sources and markets footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson.

The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets.

Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.