Needham & Company LLC Reiterates "Hold" Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO - Get Free Report)'s stock had its "hold" rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday,Benzinga reports.

SHOO has been the subject of several other research reports. UBS Group decreased their price objective on Steven Madden from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Loop Capital decreased their price objective on Steven Madden from $40.00 to $35.00 and set a "hold" rating for the company in a research note on Thursday, February 27th. Citigroup cut their target price on Steven Madden from $35.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday. StockNews.com cut Steven Madden from a "buy" rating to a "hold" rating in a report on Tuesday, January 14th. Finally, Telsey Advisory Group cut their price target on shares of Steven Madden from $38.00 to $24.00 and set a "market perform" rating on the stock in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Steven Madden presently has a consensus rating of "Hold" and a consensus price target of $31.86.

Steven Madden Trading Down 0.5 %

Shares of NASDAQ:SHOO opened at $20.89 on Friday. The business has a 50-day moving average price of $24.94 and a 200 day moving average price of $36.59. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 8.89 and a beta of 0.98. Steven Madden has a 12-month low of $19.05 and a 12-month high of $50.01.

Steven Madden (NASDAQ:SHOO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The textile maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm had revenue of $582.32 million during the quarter, compared to the consensus estimate of $550.37 million. As a group, equities research analysts predict that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Edgestream Partners L.P. lifted its holdings in Steven Madden by 45.8% in the 1st quarter. Edgestream Partners L.P. now owns 266,658 shares of the textile maker's stock valued at $7,104,000 after purchasing an additional 83,821 shares in the last quarter. MQS Management LLC purchased a new position in Steven Madden in the 1st quarter valued at $291,000. CWM LLC increased its stake in shares of Steven Madden by 231.0% in the 1st quarter. CWM LLC now owns 2,277 shares of the textile maker's stock worth $61,000 after acquiring an additional 1,589 shares during the last quarter. Alps Advisors Inc. increased its stake in shares of Steven Madden by 1.5% in the 1st quarter. Alps Advisors Inc. now owns 135,654 shares of the textile maker's stock worth $3,614,000 after acquiring an additional 1,994 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Steven Madden by 2.8% in the 1st quarter. Principal Financial Group Inc. now owns 391,937 shares of the textile maker's stock worth $10,441,000 after acquiring an additional 10,741 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company's stock.

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.

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