StockNews.com Upgrades Steven Madden (NASDAQ:SHOO) to Buy

Steven Madden (NASDAQ:SHOO) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other equities research analysts have also weighed in on SHOO. Citigroup increased their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Telsey Advisory Group restated a “market perform” rating and set a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and an average price target of $46.33.

Steven Madden Trading Down 1.4 %

Shares of SHOO opened at $41.56 on Monday. Steven Madden has a 52 week low of $37.99 and a 52 week high of $50.01. The firm has a market cap of $3.00 billion, a price-to-earnings ratio of 17.69 and a beta of 1.08. The stock has a 50 day moving average of $43.74 and a 200-day moving average of $44.53.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data 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 net margin of 7.68% and a return on equity of 23.41%. The firm had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, sell-side analysts predict that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Steven Madden

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Natixis Advisors LLC boosted its holdings in shares of Steven Madden by 167.7% in the second quarter. Natixis Advisors LLC now owns 39,580 shares of the textile maker’s stock worth $1,674,000 after buying an additional 24,793 shares during the period. TD Asset Management Inc boosted its stake in Steven Madden by 6.8% in the 2nd quarter. TD Asset Management Inc now owns 98,300 shares of the textile maker’s stock worth $4,158,000 after purchasing an additional 6,300 shares during the period. Los Angeles Capital Management LLC grew its position in Steven Madden by 190.5% during the 2nd quarter. Los Angeles Capital Management LLC now owns 40,321 shares of the textile maker’s stock worth $1,706,000 after purchasing an additional 26,443 shares in the last quarter. Vest Financial LLC acquired a new stake in Steven Madden during the 2nd quarter valued at $1,074,000. Finally, Nicholas Investment Partners LP purchased a new stake in shares of Steven Madden in the second quarter valued at $4,863,000. 99.88% of the stock is owned by institutional investors.

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.