Steven Madden (NASDAQ:SHOO) Downgraded 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 analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Other research analysts have also issued reports about the company. Telsey Advisory Group restated a "market perform" rating and issued a $26.00 price target (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. UBS Group raised their price target on Steven Madden from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Monday, July 28th. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Finally, Citigroup upgraded Steven Madden from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $26.00 to $32.00 in a report on Thursday, July 17th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Steven Madden has a consensus rating of "Hold" and an average target price of $28.80.

Steven Madden Trading Down 1.6%

Shares of NASDAQ:SHOO traded down $0.44 during midday trading on Friday, hitting $26.60. The company had a trading volume of 1,089,481 shares, compared to its average volume of 1,788,235. Steven Madden has a 12 month low of $19.05 and a 12 month high of $50.01. The company has a current ratio of 2.01, a quick ratio of 1.13 and a debt-to-equity ratio of 0.33. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 20.95 and a beta of 1.16. The firm has a fifty day simple moving average of $25.25 and a 200 day simple moving average of $26.49.

Steven Madden (NASDAQ:SHOO - Get Free Report) last posted 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). Steven Madden had a return on equity of 18.32% and a net margin of 3.92%.The company had revenue of $556.09 million during the quarter, compared to the consensus estimate of $575.83 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts predict that Steven Madden will post 2.66 EPS for the current year.

Institutional Trading of Steven Madden

A number of institutional investors have recently modified their holdings of SHOO. EverSource Wealth Advisors LLC lifted its holdings in shares of Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock valued at $25,000 after purchasing an additional 485 shares in the last quarter. CX Institutional bought a new stake in shares of Steven Madden in the first quarter valued at about $32,000. Quarry LP lifted its holdings in shares of Steven Madden by 403.6% in the fourth quarter. Quarry LP now owns 1,385 shares of the textile maker's stock valued at $59,000 after purchasing an additional 1,110 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Steven Madden by 328.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock valued at $58,000 after purchasing an additional 1,657 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Steven Madden by 231.0% in the first quarter. CWM LLC now owns 2,277 shares of the textile maker's stock valued at $61,000 after purchasing an additional 1,589 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors.

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.