Needham & Company LLC Reaffirms “Hold” Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “hold” rating reiterated by equities researchers at Needham & Company LLC in a report released on Thursday,Benzinga reports.

A number of other brokerages have also recently issued reports on SHOO. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a report on Monday, February 3rd. Citigroup lowered their price objective on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a research report on Tuesday, February 4th. StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Telsey Advisory Group decreased their target price on Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Piper Sandler lowered their price target on Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, February 4th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Steven Madden currently has a consensus rating of “Hold” and an average target price of $42.00.

Steven Madden Trading Down 8.0 %

Shares of SHOO stock opened at $34.84 on Thursday. The firm’s 50 day moving average is $40.46 and its 200-day moving average is $43.63. Steven Madden has a 1 year low of $34.56 and a 1 year high of $50.01. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 14.83 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The business had revenue of $582.32 million for the quarter, compared to analyst estimates of $550.37 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. On average, equities research analysts forecast that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Steven Madden

A number of large investors have recently bought and sold shares of the company. Gladius Capital Management LP acquired a new position in Steven Madden during the third quarter worth approximately $36,000. R Squared Ltd acquired a new position in Steven Madden in the 4th quarter valued at $55,000. Quarry LP increased its position in Steven Madden by 403.6% during the 4th quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after buying an additional 1,110 shares during the period. Blue Trust Inc. lifted its holdings in shares of Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after buying an additional 785 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Steven Madden by 4,800.0% during the third quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after buying an additional 1,872 shares in the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

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.