Steven Madden (NASDAQ:SHOO) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Steven Madden from hold to buy, adding to a generally positive analyst backdrop for the stock.
• The company reported Q1 earnings of $0.45 per share, topping estimates of $0.42, while revenue of $653.1 million also came in above expectations and rose 18% year over year.
• Steven Madden’s shares were up 2.4% to $40.61, and the stock now has a consensus Hold rating with an average price target of $43.88.

Steven Madden (NASDAQ:SHOO - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other research analysts have also weighed in on SHOO. BTIG Research reaffirmed a "buy" rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday, April 30th. Needham & Company LLC lifted their price target on shares of Steven Madden from $41.00 to $42.00 and gave the company a "buy" rating in a research note on Monday, May 4th. Zacks Research raised shares of Steven Madden from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 8th. Williams Trading set a $48.00 price target on shares of Steven Madden in a research note on Tuesday, March 10th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $40.00 price target (up from $38.00) on shares of Steven Madden in a research note on Monday, April 27th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Steven Madden has a consensus rating of "Hold" and an average price target of $43.88.

Steven Madden Stock Up 2.4%

Steven Madden stock opened at $40.61 on Friday. The company's 50 day simple moving average is $35.76 and its 200 day simple moving average is $38.99. Steven Madden has a fifty-two week low of $22.26 and a fifty-two week high of $46.88. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 38.68 and a beta of 1.12. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.23 and a quick ratio of 1.11.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The textile maker reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.03. Steven Madden had a net margin of 2.89% and a return on equity of 12.29%. The firm had revenue of $653.10 million for the quarter, compared to analyst estimates of $646.64 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The business's revenue was up 18.0% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. As a group, sell-side analysts anticipate that Steven Madden will post 2.1 EPS for the current year.

Insider Activity

In related news, Director Arian Simone Reed sold 3,600 shares of the business's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total transaction of $120,384.00. Following the transaction, the director directly owned 8,705 shares in the company, valued at approximately $291,095.20. The trade was a 29.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Steven Madden by 2.5% during the third quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker's stock worth $277,342,000 after buying an additional 200,013 shares during the last quarter. Wellington Management Group LLP increased its holdings in Steven Madden by 18.1% during the third quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker's stock worth $115,613,000 after buying an additional 528,829 shares during the last quarter. Invesco Ltd. increased its holdings in Steven Madden by 15.2% during the fourth quarter. Invesco Ltd. now owns 2,784,943 shares of the textile maker's stock worth $115,965,000 after buying an additional 367,459 shares during the last quarter. Capital Research Global Investors increased its holdings in Steven Madden by 14.0% during the third quarter. Capital Research Global Investors now owns 2,720,354 shares of the textile maker's stock worth $91,077,000 after buying an additional 334,058 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Steven Madden by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker's stock worth $82,046,000 after buying an additional 41,947 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.