Steven Madden (NASDAQ:SHOO) Given Hold Rating at Needham & Company LLC

Steven Madden (NASDAQ:SHOO - Get Free Report)'s stock had its "hold" rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other research firms have also recently issued reports on SHOO. Citigroup decreased their price target on shares of Steven Madden from $45.00 to $38.00 and set a "neutral" rating for the company in a report on Tuesday, February 4th. Piper Sandler reduced their target price on Steven Madden from $45.00 to $40.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Telsey Advisory Group dropped their price target on Steven Madden from $50.00 to $44.00 and set a "market perform" rating on the stock in a research note on Tuesday, February 4th. Finally, StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Steven Madden has an average rating of "Hold" and an average target price of $43.33.

Steven Madden Stock Down 1.1 %

Shares of Steven Madden stock traded down $0.41 on Thursday, reaching $37.19. The stock had a trading volume of 945,378 shares, compared to its average volume of 656,428. The company has a 50 day moving average price of $41.98 and a 200 day moving average price of $44.07. The stock has a market capitalization of $2.68 billion, a P/E ratio of 15.83 and a beta of 1.07. Steven Madden has a 1 year low of $36.88 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company'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 company posted $0.88 earnings per share. On average, analysts forecast that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Institutional Trading of Steven Madden

Hedge funds have recently modified their holdings of the stock. Gladius Capital Management LP acquired a new position in Steven Madden in the third quarter valued at approximately $36,000. R Squared Ltd purchased a new stake in Steven Madden during the fourth quarter worth $55,000. Exchange Traded Concepts LLC acquired a new stake in Steven Madden during the third quarter valued at $59,000. GAMMA Investing LLC grew its position in Steven Madden by 80.6% during the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock valued at $65,000 after buying an additional 593 shares during the period. Finally, Blue Trust Inc. raised its holdings in Steven Madden by 94.1% in the 3rd quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker's stock worth $79,000 after purchasing an additional 785 shares during the period. Hedge funds and other 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.