BMO Capital Markets Upgrades Steven Madden (NASDAQ:SHOO) to Strong-Buy

Key Points

• BMO Capital Markets upgraded Steven Madden to “strong buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $51.80.
• Steven Madden exceeded quarterly expectations, reporting $0.44 in EPS versus $0.33 expected and $665.87 million in revenue, up 19.1% year over year.
• The stock opened at $41.56, below the consensus price target; institutional investors own 99.88% of shares, while company insiders sold $440,212 worth of stock during the latest quarter.

Steven Madden (NASDAQ:SHOO - Get Free Report) was upgraded by equities research analysts at BMO Capital Markets to a "strong-buy" rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other equities research analysts have also recently issued reports about the stock. Williams Trading set a $56.00 target price on shares of Steven Madden in a research report on Monday, August 3rd. Needham & Company LLC boosted their price target on shares of Steven Madden from $45.00 to $52.00 and gave the stock a "buy" rating in a research report on Friday, June 12th. Capital One Financial set a $60.00 price objective on shares of Steven Madden in a research note on Tuesday. Citigroup reiterated a "buy" rating and issued a $55.00 price objective (up from $45.00) on shares of Steven Madden in a report on Friday, July 31st. Finally, Piper Sandler set a $55.00 target price on Steven Madden and gave the stock an "overweight" rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.80.

Steven Madden Stock Performance

NASDAQ SHOO opened at $41.56 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.91 and a quick ratio of 1.13. The stock's 50 day simple moving average is $44.40 and its 200-day simple moving average is $40.70. The company has a market cap of $3.04 billion, a PE ratio of 20.88 and a beta of 1.15. Steven Madden has a 1-year low of $30.12 and a 1-year high of $49.70.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The textile maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $665.87 million during the quarter, compared to analysts' expectations of $635.39 million. Steven Madden had a return on equity of 13.85% and a net margin of 5.23%.The firm's revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.20 earnings per share. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. As a group, equities research analysts anticipate that Steven Madden will post 2.15 EPS for the current fiscal year.

Insider Buying and Selling at Steven Madden

In other news, Director Mitchell Klipper sold 3,918 shares of the company's stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total value of $190,179.72. Following the transaction, the director owned 32,555 shares of the company's stock, valued at $1,580,219.70. This represents a 10.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arian Reed sold 1,250 shares of the company's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $48.76, for a total value of $60,950.00. Following the completion of the transaction, the director directly owned 8,196 shares in the company, valued at approximately $399,636.96. This trade represents a 13.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 9,086 shares of company stock worth $440,212 over the last quarter. 2.21% of the stock is currently owned by company insiders.

Institutional Trading of Steven Madden

Institutional investors have recently added to or reduced their stakes in the stock. Kingsview Wealth Management LLC purchased a new position in Steven Madden in the fourth quarter valued at $4,201,000. Nicholas Investment Partners LP purchased a new stake in Steven Madden during the 4th quarter worth about $17,575,000. Louisiana State Employees Retirement System acquired a new stake in Steven Madden in the 1st quarter valued at about $1,092,000. Janus Henderson Group PLC boosted its stake in shares of Steven Madden by 16.2% in the 1st quarter. Janus Henderson Group PLC now owns 515,113 shares of the textile maker's stock valued at $17,473,000 after buying an additional 71,628 shares during the period. Finally, Legato Capital Management LLC boosted its stake in shares of Steven Madden by 134.9% in the 4th quarter. Legato Capital Management LLC now owns 142,647 shares of the textile maker's stock valued at $5,940,000 after buying an additional 81,922 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.

About Steven Madden

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.

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