Steven Madden (NASDAQ:SHOO) Now Covered by Needham & Company LLC

Stock analysts at Needham & Company LLC began coverage on shares of Steven Madden (NASDAQ:SHOO) in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage set a “hold” rating on the textile maker’s stock.

Several other brokerages also recently weighed in on SHOO. Piper Sandler restated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research note on Friday, August 23rd. Citigroup increased their target price on Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. StockNews.com upgraded Steven Madden from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Wedbush reiterated a “neutral” rating and issued a $41.00 price objective on shares of Steven Madden in a research report on Wednesday, August 7th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $50.00 price objective on shares of Steven Madden in a research report on Wednesday, November 13th. Seven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Steven Madden has a consensus rating of “Hold” and a consensus price target of $45.43.

Steven Madden Stock Performance

SHOO opened at $42.90 on Friday. The company has a market cap of $3.10 billion, a PE ratio of 18.26 and a beta of 1.08. The stock has a 50-day moving average of $46.33 and a 200-day moving average of $44.37. Steven Madden has a 52-week low of $36.56 and a 52-week high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.02. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 EPS. On average, research analysts predict that Steven Madden will post 2.65 earnings per share for the current year.

Institutional Trading of Steven Madden

Hedge funds and other institutional investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. raised its stake in shares of Steven Madden by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 48,840 shares of the textile maker’s stock valued at $2,066,000 after purchasing an additional 35,761 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Steven Madden in the 1st quarter valued at about $876,000. Jane Street Group LLC raised its stake in shares of Steven Madden by 36.9% in the 1st quarter. Jane Street Group LLC now owns 183,423 shares of the textile maker’s stock valued at $7,755,000 after purchasing an additional 49,432 shares during the period. Nicholas Investment Partners LP acquired a new stake in shares of Steven Madden in the 2nd quarter valued at about $4,863,000. Finally, Vest Financial LLC acquired a new stake in shares of Steven Madden in the second quarter valued at about $1,074,000. Institutional investors and hedge funds 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.