Steven Madden, Ltd. (NASDAQ:SHOO) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other research firms have also weighed in on SHOO. Zacks Investment Research lowered shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Piper Jaffray Companies restated a “buy” rating and set a $44.00 price objective on shares of Steven Madden in a report on Wednesday, July 26th. Canaccord Genuity set a $47.00 price objective on shares of Steven Madden and gave the stock a “buy” rating in a report on Tuesday, August 15th. Telsey Advisory Group raised their price objective on shares of Steven Madden from $41.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Finally, B. Riley restated a “buy” rating and set a $45.00 price objective on shares of Steven Madden in a report on Friday, July 28th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $43.96.

Shares of Steven Madden (SHOO) opened at 42.70 on Thursday. The stock has a market cap of $2.53 billion, a P/E ratio of 20.56 and a beta of 0.51. Steven Madden has a 12-month low of $32.30 and a 12-month high of $43.80. The company has a 50 day moving average price of $42.08 and a 200 day moving average price of $39.70.

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

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A number of institutional investors have recently modified their holdings of the business. Riverhead Capital Management LLC raised its position in shares of Steven Madden by 97.1% in the 2nd 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 in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Steven Madden in the 2nd quarter valued at approximately $127,000. First Mercantile Trust Co. raised its position in shares of Steven Madden by 1.7% in the 2nd quarter. First Mercantile Trust Co. now owns 3,570 shares of the textile maker’s stock valued at $143,000 after buying an additional 60 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Steven Madden by 9.7% in the 1st quarter. Public Employees Retirement System of Ohio now owns 4,575 shares of the textile maker’s stock valued at $176,000 after buying an additional 403 shares in the last quarter. Finally, IFP Advisors Inc raised its position in shares of Steven Madden by 3,804.2% in the 2nd quarter. IFP Advisors Inc now owns 4,607 shares of the textile maker’s stock valued at $184,000 after buying an additional 4,489 shares in the last quarter. Institutional investors and hedge funds own 91.32% of the company’s stock.

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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