Steven Madden (NASDAQ:SHOO) Stock Rating Upgraded by StockNews.com

Steven Madden (NASDAQ:SHOO) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

SHOO has been the subject of several other research reports. BTIG Research lifted their price target on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Wedbush reiterated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a report on Wednesday, August 7th. Telsey Advisory Group restated a “market perform” rating and set a $44.00 target price on shares of Steven Madden in a report on Wednesday, July 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $45.00 price target on shares of Steven Madden in a research note on Friday, August 23rd. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and an average target price of $44.29.

Steven Madden Stock Up 0.9 %

Shares of NASDAQ SHOO opened at $47.89 on Wednesday. Steven Madden has a 12-month low of $30.35 and a 12-month high of $48.76. The firm’s 50-day simple moving average is $44.04 and its 200 day simple moving average is $42.62. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 19.79 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The firm had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. During the same quarter in the prior year, the business earned $0.47 EPS. The business’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities analysts expect that Steven Madden will post 2.62 earnings per share for the current year.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently made changes to their positions in SHOO. Norges Bank bought a new stake in shares of Steven Madden in the 4th quarter valued at about $19,846,000. Ranger Investment Management L.P. grew its stake in Steven Madden by 36.8% in the 4th quarter. Ranger Investment Management L.P. now owns 560,941 shares of the textile maker’s stock valued at $23,560,000 after buying an additional 150,852 shares during the last quarter. Capital Research Global Investors raised its holdings in Steven Madden by 8.6% in the 1st quarter. Capital Research Global Investors now owns 1,856,001 shares of the textile maker’s stock valued at $78,472,000 after acquiring an additional 146,324 shares during the period. Edgestream Partners L.P. acquired a new stake in Steven Madden during the first quarter worth approximately $5,834,000. Finally, Nicholas Investment Partners LP bought a new stake in shares of Steven Madden during the second quarter worth approximately $4,863,000. 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.