Steven Madden (NASDAQ:SHOO) Cut to “Sell” at Wall Street Zen

Steven Madden (NASDAQ:SHOO) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Other analysts have also recently issued reports about the company. Telsey Advisory Group reissued a “market perform” rating and issued a $26.00 target price (up from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. UBS Group upped their target price 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 raised Steven Madden from a “neutral” rating to a “buy” rating and upped their target price for the company from $26.00 to $32.00 in a research report on Thursday, July 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Wednesday, July 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Steven Madden currently has a consensus rating of “Hold” and an average price target of $28.80.

Steven Madden Trading Up 1.0%

SHOO opened at $27.01 on Friday. Steven Madden has a one year low of $19.05 and a one year high of $50.01. The company has a market cap of $1.96 billion, a P/E ratio of 21.27 and a beta of 1.16. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.13 and a current ratio of 2.01. The business’s 50-day simple moving average is $25.17 and its 200-day simple moving average is $26.79.

Steven Madden (NASDAQ:SHOO) last released 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 business had revenue of $556.09 million during 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%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. As a group, equities research analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Steven Madden by 86.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after acquiring an additional 485 shares during the period. CX Institutional purchased a new stake in shares of Steven Madden in the first quarter worth about $32,000. Quarry LP boosted its position 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 worth $59,000 after buying an additional 1,110 shares during the period. Caitong International Asset Management Co. Ltd boosted its position 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 worth $58,000 after buying an additional 1,657 shares during the period. Finally, CWM LLC boosted its position 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 worth $61,000 after buying an additional 1,589 shares during the period. Hedge funds and other 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.