Zacks Investment Research downgraded shares of Steven Madden, Ltd. (NASDAQ:SHOO) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “Steven Madden, Ltd. designs, sources, markets and sells fashion-forward footwear brands for women, men and children. They distribute products through their retail stores, their e-commerce websites, catalogs and department and specialty store “

SHOO has been the subject of a number of other research reports. BidaskClub raised shares of Steven Madden from a hold rating to a buy rating in a report on Wednesday, July 5th. Piper Jaffray Companies set a $41.00 target price on shares of Steven Madden and gave the stock a buy rating in a report on Wednesday, May 31st. Canaccord Genuity set a $47.00 target price on shares of Steven Madden and gave the stock a buy rating in a report on Tuesday, August 15th. Morgan Stanley increased their target price on shares of Steven Madden from $37.00 to $38.00 and gave the stock an equal weight rating in a report on Tuesday, June 6th. Finally, Citigroup Inc. increased their target price on shares of Steven Madden from $44.00 to $45.00 and gave the stock a buy rating in a report on Tuesday, April 25th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Steven Madden currently has a consensus rating of Buy and an average target price of $44.04.

Steven Madden (NASDAQ SHOO) opened at 41.05 on Thursday. The company has a market capitalization of $2.43 billion, a P/E ratio of 19.76 and a beta of 0.53. Steven Madden has a 52 week low of $32.30 and a 52 week high of $43.80. The firm has a 50 day moving average of $40.66 and a 200-day moving average of $38.38.

Steven Madden (NASDAQ:SHOO) last posted its earnings results on Tuesday, August 1st. The textile maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. Steven Madden had a net margin of 8.19% and a return on equity of 17.57%. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, analysts forecast that Steven Madden will post $2.25 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Zacks Investment Research Lowers Steven Madden, Ltd. (SHOO) to Hold” was posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another domain, it was illegally copied and republished in violation of U.S. & international copyright laws. The legal version of this article can be accessed at https://www.thecerbatgem.com/2017/08/21/zacks-investment-research-lowers-steven-madden-ltd-shoo-to-hold.html.

In related news, CFO Arvind Dharia sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $40.22, for a total value of $804,400.00. Following the completion of the transaction, the chief financial officer now owns 66,662 shares in the company, valued at approximately $2,681,145.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Karla Frieders sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $38.61, for a total transaction of $193,050.00. Following the completion of the transaction, the insider now owns 83,216 shares of the company’s stock, valued at approximately $3,212,969.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,740 shares of company stock valued at $4,832,677. 2.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its position in Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock valued at $102,000 after buying an additional 1,262 shares during the last quarter. Elkfork Partners LLC raised its position in Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock valued at $103,000 after buying an additional 396 shares during the last quarter. TrimTabs Asset Management LLC raised its position in Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock valued at $117,000 after buying an additional 1,424 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Steven Madden during the second quarter valued at about $127,000. Finally, Meadow Creek Investment Management LLC raised its position in Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock valued at $131,000 after buying an additional 504 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Get a free copy of the Zacks research report on Steven Madden (SHOO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

Receive News & Stock Ratings for Steven Madden Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steven Madden Ltd. and related stocks with our FREE daily email newsletter.