Steven Madden (NASDAQ:SHOO) Cut to “Hold” at StockNews.com

Steven Madden (NASDAQ:SHOO) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other equities analysts also recently weighed in on SHOO. Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $50.00 target price on shares of Steven Madden in a research report on Wednesday, November 13th. Finally, Citigroup lifted their price target on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Steven Madden has a consensus rating of “Hold” and an average price target of $45.43.

Steven Madden Price Performance

NASDAQ:SHOO opened at $42.33 on Friday. The stock has a market cap of $3.06 billion, a PE ratio of 18.01 and a beta of 1.07. Steven Madden has a fifty-two week low of $37.99 and a fifty-two week high of $50.01. The stock’s 50-day moving average is $44.23 and its two-hundred day moving average is $44.59.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The firm had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. On average, equities research analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its position in Steven Madden by 3.1% during the second quarter. Mackenzie Financial Corp now owns 8,232 shares of the textile maker’s stock worth $348,000 after purchasing an additional 248 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Steven Madden by 1.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after buying an additional 400 shares during the period. The Manufacturers Life Insurance Company grew its stake in Steven Madden by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after buying an additional 484 shares during the last quarter. KBC Group NV grew its stake in Steven Madden by 34.1% in the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after buying an additional 561 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Steven Madden by 0.5% in the 2nd quarter. Sei Investments Co. now owns 125,678 shares of the textile maker’s stock worth $5,316,000 after acquiring an additional 590 shares during the period. 99.88% of the stock is owned by institutional investors.

About Steven Madden

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.