Steven Madden (NASDAQ:SHOO) Rating Increased to Buy at StockNews.com

Steven Madden (NASDAQ:SHOO) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Monday.

A number of other equities analysts also recently weighed in on the company. Citigroup upped their price target on Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Wednesday, November 13th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden currently has an average rating of “Hold” and an average price target of $46.33.

Steven Madden Stock Up 0.6 %

NASDAQ:SHOO traded up $0.24 during trading hours on Monday, reaching $42.15. The company had a trading volume of 530,223 shares, compared to its average volume of 647,908. The firm has a market capitalization of $3.04 billion, a PE ratio of 17.94 and a beta of 1.08. The stock has a 50-day moving average of $43.81 and a two-hundred day moving average of $44.54. Steven Madden has a one year low of $37.99 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to analysts’ expectations of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The business’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. As a group, sell-side analysts expect that Steven Madden will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently made changes to their positions in the stock. Gladius Capital Management LP bought a new position in shares of Steven Madden in the third quarter worth approximately $36,000. Exchange Traded Concepts LLC bought a new position in Steven Madden in the third quarter valued at $59,000. GAMMA Investing LLC raised its position in Steven Madden by 80.6% during the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares in the last quarter. Blue Trust Inc. lifted its stake in Steven Madden by 94.1% during the third quarter. Blue Trust Inc. now owns 1,619 shares of the textile maker’s stock worth $79,000 after purchasing an additional 785 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Steven Madden by 4,800.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,911 shares of the textile maker’s stock worth $94,000 after purchasing an additional 1,872 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.