Steven Madden (NASDAQ:SHOO) Lowered to Sell Rating by Wall Street Zen

Key Points

• Steven Madden was downgraded from a "hold" to a "sell" rating by Wall Street Zen, reflecting a more negative outlook on the stock.
• Despite the downgrade, other analysts have varied opinions, with UBS and Telsey Advisory Group maintaining a "neutral" rating and Citigroup upgrading from "neutral" to "buy" with a target price increase to $32.00.
• The company reported a missed earnings estimate in its latest quarterly data, with EPS at $0.20 compared to the consensus expectation of $0.24, contributing to a current average price target of $28.80 from analysts.

Steven Madden (NASDAQ:SHOO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

SHOO has been the topic of several other research reports. Telsey Advisory Group reiterated a "market perform" rating and set a $26.00 price objective (up previously from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. UBS Group upped their price target on Steven Madden from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $26.00 to $32.00 in a report on Thursday, July 17th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Steven Madden in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $28.80.

Steven Madden Stock Up 0.2%

Shares of NASDAQ SHOO traded up $0.0650 during trading on Friday, reaching $26.9850. 513,119 shares of the stock were exchanged, compared to its average volume of 1,564,664. Steven Madden has a twelve month low of $19.05 and a twelve month high of $50.01. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 21.25 and a beta of 1.16. The company has a quick ratio of 1.13, a current ratio of 2.01 and a debt-to-equity ratio of 0.33. The business's 50-day moving average price is $25.18 and its 200 day moving average price is $26.49.

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

Institutional Trading of Steven Madden

Several hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its stake in Steven Madden by 3.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 22,198 shares of the textile maker's stock valued at $944,000 after acquiring an additional 804 shares during the period. Bank of Montreal Can lifted its stake in Steven Madden by 5.5% in the fourth quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker's stock worth $453,000 after acquiring an additional 554 shares during the period. Mariner LLC lifted its stake in Steven Madden by 7.2% in the fourth quarter. Mariner LLC now owns 4,740 shares of the textile maker's stock worth $202,000 after acquiring an additional 319 shares during the period. PEAK6 LLC bought a new position in Steven Madden in the fourth quarter worth $978,000. Finally, First Trust Advisors LP raised its holdings in Steven Madden by 36.9% in the fourth quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock worth $85,135,000 after purchasing an additional 539,738 shares in the last quarter. Institutional investors own 99.88% of the company's stock.

About Steven Madden

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.