Steven Madden, Ltd. (NASDAQ:SHOO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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 “

A number of other equities analysts also recently issued reports on the company. ValuEngine raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub downgraded Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, August 22nd. Canaccord Genuity set a $47.00 price target on Steven Madden and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Wedbush assumed coverage on Steven Madden in a research report on Monday, August 14th. They set an “outperform” rating and a $48.00 price target on the stock. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $45.00 price target (up from $41.00) on shares of Steven Madden in a research report on Tuesday, August 8th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $43.96.

Steven Madden (NASDAQ:SHOO) opened at 42.05 on Thursday. The stock has a market capitalization of $2.49 billion, a P/E ratio of 20.25 and a beta of 0.51. The stock has a 50 day moving average price of $41.80 and a 200-day moving average price of $39.11. Steven Madden has a 1-year low of $32.30 and a 1-year high of $43.80.

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

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In other Steven Madden news, insider Karla Frieders sold 5,000 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $38.61, for a total value of $193,050.00. Following the sale, the insider now directly owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.06% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. Amalgamated Bank boosted its holdings in Steven Madden by 0.4% in the second quarter. Amalgamated Bank now owns 8,107 shares of the textile maker’s stock valued at $324,000 after purchasing an additional 32 shares during the last quarter. Jennison Associates LLC boosted its holdings in Steven Madden by 0.4% in the second quarter. Jennison Associates LLC now owns 11,834 shares of the textile maker’s stock valued at $473,000 after purchasing an additional 44 shares during the last quarter. First Mercantile Trust Co. boosted its holdings in Steven Madden by 1.7% in the second quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after purchasing an additional 60 shares during the last quarter. CS Mckee LP boosted its holdings in Steven Madden by 0.5% in the second quarter. CS Mckee LP now owns 22,175 shares of the textile maker’s stock valued at $886,000 after purchasing an additional 100 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Steven Madden by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 19,118 shares of the textile maker’s stock valued at $763,000 after purchasing an additional 189 shares during the last quarter. 91.36% of the stock is currently owned by institutional investors.

About Steven Madden

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.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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