Steven Madden (NASDAQ:SHOO) Downgraded to "Hold" Rating by StockNews.com

Steven Madden (NASDAQ:SHOO - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Friday.

Several other research analysts also recently weighed in on SHOO. Citigroup increased their price target on shares of Steven Madden from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday. Piper Sandler reiterated a "neutral" rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Telsey Advisory Group reissued a "market perform" rating and set a $50.00 price target on shares of Steven Madden in a report on Thursday. Finally, Wedbush reaffirmed a "neutral" rating and issued a $41.00 price objective on shares of Steven Madden in a research note on Wednesday, August 7th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Steven Madden currently has a consensus rating of "Hold" and a consensus target price of $45.43.

Steven Madden Stock Performance

Shares of SHOO stock traded down $0.97 on Friday, reaching $44.63. The stock had a trading volume of 1,340,635 shares, compared to its average volume of 707,524. Steven Madden has a 1 year low of $32.71 and a 1 year high of $50.01. The stock has a market cap of $3.24 billion, a P/E ratio of 18.99 and a beta of 1.08. The company has a 50 day simple moving average of $46.42 and a 200 day simple moving average of $44.13.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The firm had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The business's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 EPS. On average, equities research analysts anticipate that Steven Madden will post 2.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in shares of Steven Madden by 9,166.7% during the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock worth $35,000 after acquiring an additional 825 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Steven Madden during the 3rd quarter valued at about $36,000. Exchange Traded Concepts LLC purchased a new position in shares of Steven Madden during the third quarter valued at about $59,000. GAMMA Investing LLC increased its holdings in shares of Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock worth $65,000 after purchasing an additional 593 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Steven Madden in the first quarter worth about $81,000. 99.88% of the stock is owned by hedge funds and other 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.

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