Steven Madden, Ltd. (NASDAQ:SHOO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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 “

SHOO has been the subject of several other research reports. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $45.00 price objective (up previously from $41.00) on shares of Steven Madden in a report on Tuesday, August 8th. B. Riley reaffirmed a “buy” rating and issued a $47.00 price objective on shares of Steven Madden in a report on Tuesday, August 8th. Morgan Stanley upped their price objective on shares of Steven Madden from $37.00 to $38.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. BidaskClub cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Canaccord Genuity boosted their price target on shares of Steven Madden from $45.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Steven Madden has a consensus rating of “Buy” and an average target price of $43.96.

Shares of Steven Madden (NASDAQ:SHOO) traded up 0.95% during trading on Thursday, hitting $42.35. 666,624 shares of the stock were exchanged. The stock has a 50-day moving average of $41.87 and a 200 day moving average of $39.18. The stock has a market cap of $2.51 billion, a P/E ratio of 20.39 and a beta of 0.51. Steven Madden has a 12-month low of $32.30 and a 12-month high of $43.80.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. The business had revenue of $374.15 million during the quarter, compared to the consensus estimate of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 earnings per share. Equities analysts predict that Steven Madden will post $2.25 earnings per share for the current fiscal year.

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In other Steven Madden news, insider Karla Frieders sold 5,000 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $38.61, for a total transaction of $193,050.00. Following the sale, the insider now owns 83,216 shares in the company, valued at approximately $3,212,969.76. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.06% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of SHOO. Glen Harbor Capital Management LLC raised its holdings in Steven Madden by 17.5% during the 1st quarter. Glen Harbor Capital Management LLC now owns 4,114 shares of the textile maker’s stock worth $159,000 after buying an additional 612 shares during the period. Great West Life Assurance Co. Can raised its holdings in Steven Madden by 5.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 76,496 shares of the textile maker’s stock worth $2,944,000 after buying an additional 3,696 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Steven Madden by 6.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 53,063 shares of the textile maker’s stock worth $2,046,000 after buying an additional 3,243 shares during the period. First Trust Advisors LP raised its holdings in Steven Madden by 31.3% during the 1st quarter. First Trust Advisors LP now owns 43,895 shares of the textile maker’s stock worth $1,692,000 after buying an additional 10,468 shares during the period. Finally, Elkfork Partners LLC raised its holdings in Steven Madden by 17.5% during the 1st quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock worth $103,000 after buying an additional 396 shares during the period. Hedge funds and other institutional investors own 91.36% of the company’s stock.

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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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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