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 report issued to clients and investors on Saturday.

Several other equities analysts also recently weighed in on SHOO. Telsey Advisory Group reaffirmed a “market perform” rating and set a $50.00 price target on shares of Steven Madden in a report on Wednesday, November 13th. Citigroup lifted their target price on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Wedbush reaffirmed a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. Finally, Piper Sandler reissued a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $45.43.

Steven Madden Price Performance

NASDAQ:SHOO opened at $43.23 on Friday. Steven Madden has a one year low of $35.64 and a one year high of $50.01. The business has a fifty day moving average price of $46.43 and a 200-day moving average price of $44.36. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 18.40 and a beta of 1.08.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. The business’s quarterly revenue was up 13.0% on a year-over-year basis. On average, equities research analysts expect that Steven Madden will post 2.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently bought and sold shares of SHOO. State Street Corp lifted its position in Steven Madden by 1.7% during the third quarter. State Street Corp now owns 2,756,075 shares of the textile maker’s stock valued at $135,020,000 after purchasing an additional 47,017 shares during the last quarter. Capital Research Global Investors raised its position in shares of Steven Madden by 8.6% during 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 buying an additional 146,324 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Steven Madden by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,710,492 shares of the textile maker’s stock valued at $83,812,000 after buying an additional 49,075 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Steven Madden by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,096,777 shares of the textile maker’s stock valued at $53,731,000 after acquiring an additional 32,696 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Steven Madden by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 873,682 shares of the textile maker’s stock worth $36,957,000 after acquiring an additional 5,451 shares in the last quarter. Institutional investors 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.