Steven Madden (NASDAQ:SHOO) Upgraded by StockNews.com to “Buy” Rating

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

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

Steven Madden Stock Up 0.6 %

Shares of Steven Madden stock traded up $0.24 during trading on Monday, hitting $42.15. 530,223 shares of the company were exchanged, compared to its average volume of 647,908. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 17.94 and a beta of 1.08. Steven Madden has a fifty-two week low of $37.99 and a fifty-two week high of $50.01. The firm has a 50 day moving average price of $43.81 and a 200 day moving average price of $44.54.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.02. The company had revenue of $624.68 million during 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 quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 EPS. Analysts predict that Steven Madden will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On Steven Madden

Several large investors have recently made changes to their positions in the business. Gladius Capital Management LP acquired a new stake in shares of Steven Madden in the third quarter worth $36,000. Exchange Traded Concepts LLC bought a new stake in Steven Madden in the 3rd quarter valued at $59,000. GAMMA Investing LLC grew its position in Steven Madden by 80.6% in the 3rd 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. Blue Trust Inc. increased its holdings in shares of Steven Madden by 94.1% during 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. Finally, International Assets Investment Management LLC raised its position 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 valued at $94,000 after buying an additional 1,872 shares during the last quarter. Institutional investors and hedge funds 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.