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

Key Points

• Needham & Company LLC has reiterated a "hold" rating for Steven Madden (NASDAQ:SHOO), indicating cautious outlook on the stock.
• Steven Madden's stock price is currently around $24.55 with an average target price of $30.50, reflecting a moderate outlook from various analysts.
• Institutional investors and hedge funds own nearly 99.88% of Steven Madden's stock, demonstrating strong institutional interest in the company.

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

SHOO has been the topic of several other research reports. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and increased their price target for the stock from $26.00 to $32.00 in a report on Thursday, July 17th. UBS Group increased their price target on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Piper Sandler cut their price target on Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 price target on shares of Steven Madden in a report on Wednesday, July 23rd. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $30.83.

Steven Madden Trading Down 2.0%

Shares of Steven Madden stock traded down $0.48 on Wednesday, hitting $23.52. 2,940,411 shares of the company's stock traded hands, compared to its average volume of 1,528,850. Steven Madden has a one year low of $19.05 and a one year high of $50.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.64. The company has a fifty day moving average of $24.99 and a two-hundred day moving average of $27.77. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 18.52 and a beta of 1.16.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. Steven Madden had a return on equity of 18.32% and a net margin of 3.92%. The firm's revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, sell-side analysts expect that Steven Madden will post 2.66 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. HighTower Advisors LLC lifted its holdings in Steven Madden by 11.7% during the fourth quarter. HighTower Advisors LLC now owns 6,439 shares of the textile maker's stock worth $274,000 after acquiring an additional 676 shares during the period. American Century Companies Inc. lifted its holdings in Steven Madden by 53.4% during the fourth quarter. American Century Companies Inc. now owns 74,779 shares of the textile maker's stock worth $3,180,000 after acquiring an additional 26,043 shares during the period. Vanguard Group Inc. lifted its holdings in Steven Madden by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,097,339 shares of the textile maker's stock worth $344,299,000 after acquiring an additional 54,877 shares during the period. JPMorgan Chase & Co. lifted its holdings in Steven Madden by 26.4% during the fourth quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker's stock worth $24,835,000 after acquiring an additional 121,972 shares during the period. Finally, Norges Bank bought a new stake in Steven Madden during the fourth quarter worth $9,399,000. 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.