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

Steven Madden (NASDAQ:SHOO)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

A number of other brokerages have also recently commented on SHOO. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Telsey Advisory Group cut their target price on shares of Steven Madden from $44.00 to $38.00 and set a “market perform” rating for the company in a research note on Thursday. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research note on Monday, February 3rd. Piper Sandler cut their target price on shares of Steven Madden from $45.00 to $40.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Finally, Citigroup cut their target price on shares of Steven Madden from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, February 4th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Steven Madden currently has an average rating of “Hold” and a consensus price target of $40.33.

Steven Madden Price Performance

Shares of SHOO stock opened at $32.79 on Thursday. The stock has a market cap of $2.37 billion, a P/E ratio of 13.95 and a beta of 1.07. The company has a fifty day moving average price of $40.07 and a two-hundred day moving average price of $43.49. Steven Madden has a one year low of $32.31 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, February 26th. The textile maker reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $582.32 million during the quarter, compared to analysts’ expectations of $550.37 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. As a group, equities research analysts anticipate that Steven Madden will post 2.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently bought and sold shares of the business. Gladius Capital Management LP bought a new position in Steven Madden during the third quarter worth about $36,000. R Squared Ltd bought a new position in Steven Madden during the fourth quarter worth about $55,000. Quarry LP increased its position in Steven Madden by 403.6% during the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker’s stock worth $59,000 after acquiring an additional 1,110 shares during the period. Blue Trust Inc. increased its position in 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 acquiring an additional 785 shares during the period. Finally, International Assets Investment Management LLC increased its position in 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 acquiring an additional 1,872 shares during the period. 99.88% of the stock is owned by 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.