Needham & Company LLC Forecasts Strong Price Appreciation for Steven Madden (NASDAQ:SHOO) Stock

Key Points

• Needham & Company raised its price target on Steven Madden from $41 to $42 and maintained a "buy" rating, implying roughly a 12% upside from the prior close.
• Analyst coverage is mixed—five Buys, three Holds and one Sell—resulting in an average rating of Hold and an average target price of $43.88.
• Steven Madden beat EPS estimates ($0.48 vs. $0.46) with revenue up 29.6% year‑over‑year though slightly below consensus; the stock trades around $37.50, with a market cap of $2.74B and a P/E of 60.48.

Steven Madden (NASDAQ:SHOO - Get Free Report) had its price objective boosted by investment analysts at Needham & Company LLC from $41.00 to $42.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the textile maker's stock. Needham & Company LLC's price target would indicate a potential upside of 12.00% from the stock's previous close.

SHOO has been the topic of a number of other reports. Williams Trading set a $48.00 price objective on Steven Madden in a report on Tuesday, March 10th. BTIG Research reissued a "buy" rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday. Weiss Ratings reissued a "hold (c)" rating on shares of Steven Madden in a report on Tuesday, April 21st. Zacks Research raised Steven Madden from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 8th. Finally, UBS Group reissued a "neutral" rating and issued a $40.00 target price (up from $38.00) on shares of Steven Madden in a report on Monday, April 27th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Steven Madden has an average rating of "Hold" and an average target price of $43.88.

Steven Madden Price Performance

NASDAQ SHOO opened at $37.50 on Monday. The company has a current ratio of 1.90, a quick ratio of 1.11 and a debt-to-equity ratio of 0.26. The stock's 50 day moving average is $35.71 and its two-hundred day moving average is $38.91. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 60.48 and a beta of 1.12. Steven Madden has a 1-year low of $19.75 and a 1-year high of $46.88.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings data on Wednesday, February 25th. The textile maker reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.46 by $0.02. The company had revenue of $753.70 million for 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 company's quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.55 earnings per share. Equities analysts forecast that Steven Madden will post 2.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Arian Simone Reed sold 3,600 shares of the business's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the completion of the transaction, the director owned 8,705 shares in the company, valued at $291,095.20. The trade was a 29.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its position in Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock worth $25,000 after purchasing an additional 485 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Steven Madden in the 4th quarter worth approximately $30,000. SBI Securities Co. Ltd. bought a new position in Steven Madden in the 3rd quarter worth approximately $31,000. Global Retirement Partners LLC raised its position in Steven Madden by 1,064.3% in the 4th 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 last quarter. Finally, First Horizon Corp raised its position in Steven Madden by 55.1% in the 4th 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 last quarter. Institutional investors own 99.88% of the company's stock.

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.

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