Steven Madden (NASDAQ:SHOO) Upgraded to Buy at Wall Street Zen

Steven Madden (NASDAQ:SHOO) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities research analysts also recently commented on the company. Needham & Company LLC lifted their price objective on Steven Madden from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, May 4th. UBS Group reaffirmed a “neutral” rating and issued a $40.00 price objective (up from $38.00) on shares of Steven Madden in a research report on Monday, April 27th. Williams Trading set a $48.00 price objective on Steven Madden in a research report on Tuesday, March 10th. BTIG Research reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Tuesday, April 21st. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $43.88.

Steven Madden Price Performance

Shares of NASDAQ:SHOO opened at $44.03 on Friday. The company has a market cap of $3.22 billion, a P/E ratio of 41.93 and a beta of 1.15. The company has a quick ratio of 1.42, a current ratio of 2.23 and a debt-to-equity ratio of 0.30. Steven Madden has a 52 week low of $22.26 and a 52 week high of $46.88. The business has a fifty day simple moving average of $38.86 and a 200-day simple moving average of $39.77.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Wednesday, May 6th. The textile maker reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $653.10 million during the quarter, compared to the consensus estimate of $646.64 million. Steven Madden had a return on equity of 12.29% and a net margin of 2.89%.The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.60 earnings per share. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. Equities research analysts forecast that Steven Madden will post 2.09 EPS for the current year.

Insiders Place Their Bets

In related news, Director Arian Simone Reed sold 3,600 shares of Steven Madden stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $33.44, for a total value of $120,384.00. Following the transaction, the director owned 8,705 shares in the company, valued at approximately $291,095.20. This trade represents a 29.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 4,723 shares of company stock valued at $167,099 in the last 90 days. 2.21% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SHOO. Scopus Asset Management L.P. acquired a new position in Steven Madden in the third quarter valued at $36,451,000. Boston Partners acquired a new position in Steven Madden in the third quarter valued at $33,319,000. Invesco Ltd. lifted its stake in shares of Steven Madden by 50.5% during the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after purchasing an additional 814,318 shares in the last quarter. Neumeier Poma Investment Counsel LLC lifted its stake in shares of Steven Madden by 155.9% during the third quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock worth $31,974,000 after purchasing an additional 581,745 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Steven Madden by 1,170.4% during the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock worth $16,438,000 after purchasing an additional 568,477 shares in the last quarter. 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.