ValuEngine Downgrades Steven Madden, Ltd. (SHOO) to Hold
Steven Madden, Ltd. (NASDAQ:SHOO) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.
Several other brokerages have also recently commented on SHOO. Zacks Investment Research cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Piper Jaffray Companies restated a “buy” rating and set a $44.00 target price on shares of Steven Madden in a research report on Wednesday, July 26th. Canaccord Genuity set a $47.00 target price on shares of Steven Madden and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Telsey Advisory Group lifted their target price on shares of Steven Madden from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Finally, B. Riley restated a “buy” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, July 28th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $43.96.
Shares of Steven Madden (NASDAQ SHOO) traded up 0.23% on Thursday, hitting $42.70. 279,424 shares of the company’s stock were exchanged. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 20.63 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 price is $42.08 and its 200 day moving average price is $39.70.
Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.06. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The firm had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. During the same quarter last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. On average, equities analysts predict that Steven Madden will post $2.25 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in Steven Madden by 148,882.3% in the first quarter. BlackRock Inc. now owns 6,921,716 shares of the textile maker’s stock valued at $266,833,000 after acquiring an additional 6,917,070 shares in the last quarter. 1060 Capital LLC acquired a new stake in Steven Madden in the second quarter valued at $24,372,000. Wells Fargo & Company MN raised its holdings in Steven Madden by 386.5% in the second quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock valued at $27,924,000 after acquiring an additional 555,283 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Steven Madden by 16.2% in the second quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock valued at $89,889,000 after acquiring an additional 314,205 shares in the last quarter. Finally, Teachers Advisors LLC raised its holdings in Steven Madden by 92.0% in the first quarter. Teachers Advisors LLC now owns 557,535 shares of the textile maker’s stock valued at $21,493,000 after acquiring an additional 267,183 shares in the last quarter. 91.32% of the stock is currently 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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