Steven Madden (NASDAQ:SHOO) Stock Price Up 8.8%

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Shares of Steven Madden, Ltd. (NASDAQ:SHOO) rose 8.8% on Monday . The company traded as high as $24.86 and last traded at $24.83, approximately 733,946 shares were traded during mid-day trading. A decline of 19% from the average daily volume of 900,789 shares. The stock had previously closed at $22.83.

A number of brokerages recently commented on SHOO. Loop Capital lowered Steven Madden from a “buy” rating to a “hold” rating and dropped their price target for the stock from $37.00 to $23.00 in a report on Wednesday, May 13th. Telsey Advisory Group dropped their price target on Steven Madden from $30.00 to $23.00 and set a “market perform” rating on the stock in a report on Friday, May 22nd. Citigroup dropped their price target on Steven Madden from $28.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, April 24th. Wells Fargo & Co lowered Steven Madden from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $26.00 to $18.00 in a report on Thursday, May 14th. Finally, BTIG Research began coverage on Steven Madden in a report on Tuesday, April 28th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $24.38.

The stock has a market capitalization of $1.90 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 2.32 and a beta of 1.09. The company has a 50 day simple moving average of $23.63 and a 200-day simple moving average of $30.69.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Thursday, May 28th. The textile maker reported $0.16 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.01). The firm had revenue of $359.20 million during the quarter, compared to the consensus estimate of $352.21 million. Steven Madden had a net margin of 5.20% and a return on equity of 17.09%. The business’s quarterly revenue was down 13.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 earnings per share. As a group, equities research analysts anticipate that Steven Madden, Ltd. will post 0.66 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in SHOO. Advisor Group Holdings Inc. purchased a new position in shares of Steven Madden in the first quarter valued at $29,000. Archer Investment Corp purchased a new position in shares of Steven Madden in the fourth quarter valued at $33,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Steven Madden in the fourth quarter valued at $50,000. NumerixS Investment Technologies Inc purchased a new position in shares of Steven Madden in the fourth quarter valued at $60,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Steven Madden by 45.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,917 shares of the textile maker’s stock valued at $184,000 after purchasing an additional 2,474 shares in the last quarter. Institutional investors own 92.42% of the company’s stock.

Steven Madden Company Profile (NASDAQ:SHOO)

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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