Steven Madden (NASDAQ:SHOO) Lifted to “Hold” at BidaskClub

Steven Madden (NASDAQ:SHOO) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Saturday, June 29th, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Piper Jaffray Companies set a $9.00 price target on shares of FTS International and gave the company a “buy” rating in a report on Tuesday, May 14th. ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a report on Wednesday, May 15th. B. Riley reissued a “buy” rating on shares of Skechers USA in a report on Friday, April 26th. Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $36.00 target price (down previously from $38.00) on shares of Steven Madden in a research note on Thursday, June 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.93.

NASDAQ SHOO traded up $0.49 during trading on Friday, hitting $33.51. The company had a trading volume of 684,039 shares, compared to its average volume of 496,569. The firm has a market capitalization of $2.88 billion, a P/E ratio of 18.31, a price-to-earnings-growth ratio of 2.03 and a beta of 0.82. Steven Madden has a one year low of $27.88 and a one year high of $39.30. The stock has a fifty day simple moving average of $32.54.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Thursday, April 25th. The textile maker reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $410.90 million during the quarter, compared to analyst estimates of $404.31 million. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. Steven Madden’s revenue was up 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. Equities analysts expect that Steven Madden will post 1.84 earnings per share for the current fiscal year.

In other news, EVP Michael Paradise sold 2,000 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total transaction of $71,980.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Garrett Smith sold 9,267 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $31.00, for a total transaction of $287,277.00. The disclosure for this sale can be found here. Insiders have sold 17,417 shares of company stock valued at $567,204 over the last ninety days. 1.96% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of Steven Madden by 50.1% during the fourth quarter. BlackRock Inc. now owns 11,790,955 shares of the textile maker’s stock valued at $356,795,000 after acquiring an additional 3,933,542 shares in the last quarter. Norges Bank purchased a new stake in Steven Madden in the fourth quarter valued at approximately $41,764,000. Macquarie Group Ltd. boosted its position in Steven Madden by 56.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,600,261 shares of the textile maker’s stock valued at $108,949,000 after buying an additional 1,293,591 shares during the last quarter. FMR LLC boosted its position in Steven Madden by 54.3% in the fourth quarter. FMR LLC now owns 3,120,538 shares of the textile maker’s stock valued at $94,428,000 after buying an additional 1,097,757 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Steven Madden by 50.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,470,104 shares of the textile maker’s stock worth $74,745,000 after purchasing an additional 828,499 shares in the last quarter. Institutional investors and hedge funds own 95.87% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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