Zacks Research Downgrades Steven Madden (NASDAQ:SHOO) to Strong Sell

Steven Madden (NASDAQ:SHOO) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

SHOO has been the subject of several other reports. Williams Trading set a $48.00 price objective on Steven Madden in a report on Tuesday. Jefferies Financial Group lowered shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price on the stock. in a research note on Thursday, February 5th. BTIG Research reiterated a “buy” rating and set a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 26th. Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $50.00 price objective on shares of Steven Madden in a report on Thursday, February 26th. Five analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $44.00.

Steven Madden Stock Down 1.5%

NASDAQ SHOO opened at $34.04 on Tuesday. The stock has a fifty day moving average of $40.55 and a 200-day moving average of $37.90. The stock has a market capitalization of $2.48 billion, a P/E ratio of 54.90 and a beta of 1.13. Steven Madden has a 52 week low of $19.05 and a 52 week high of $46.88. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.11 and a current ratio of 1.90.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.55 earnings per share. On average, equities research analysts forecast that Steven Madden will post 2.66 EPS for the current year.

Institutional Trading of Steven Madden

A number of institutional investors and hedge funds have recently modified their holdings of SHOO. EverSource Wealth Advisors LLC raised its position in shares of Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 485 shares during the period. Los Angeles Capital Management LLC acquired a new position in Steven Madden during the fourth quarter valued at approximately $30,000. SBI Securities Co. Ltd. bought a new stake in Steven Madden in the third quarter valued at approximately $31,000. Global Retirement Partners LLC raised its holdings in Steven Madden by 1,064.3% in the fourth quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock worth $34,000 after purchasing an additional 745 shares during the period. Finally, First Horizon Corp raised its holdings in Steven Madden by 55.1% in the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock worth $37,000 after purchasing an additional 317 shares during the period. 99.88% of the stock is owned by institutional investors.

Steven Madden Company Profile

Steven Madden, Inc (NASDAQ: SHOO) is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company’s product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.