Steven Madden (NASDAQ:SHOO) had its price objective reduced by Piper Sandler from $25.00 to $22.00 in a research report report published on Thursday morning, BenzingaRatingsTable reports. They currently have a neutral rating on the textile maker’s stock.

A number of other brokerages also recently issued reports on SHOO. ValuEngine upgraded Steven Madden from a sell rating to a hold rating in a research report on Friday, May 1st. Telsey Advisory Group dropped their price target on Steven Madden from $30.00 to $23.00 and set a market perform rating for the company in a research report on Friday, May 22nd. Wells Fargo & Co downgraded Steven Madden from an equal weight rating to an underweight rating and dropped their price target for the company from $26.00 to $18.00 in a research report on Thursday, May 14th. Loop Capital downgraded Steven Madden from a buy rating to a hold rating and dropped their price target for the company from $37.00 to $23.00 in a research report on Wednesday, May 13th. Finally, Susquehanna Bancshares restated a neutral rating and issued a $22.00 target price (down previously from $38.00) on shares of Steven Madden in a research report on Monday, April 6th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average price target of $23.20.

SHOO stock traded down $1.23 during mid-day trading on Thursday, reaching $21.18. 1,330,305 shares of the company traded hands, compared to its average volume of 682,606. The company has a market capitalization of $1.76 billion, a P/E ratio of 51.66, a P/E/G ratio of 2.53 and a beta of 1.14. Steven Madden has a 52-week low of $16.38 and a 52-week high of $44.79. The company has a fifty day moving average price of $23.03 and a 200-day moving average price of $27.58.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, July 29th. The textile maker reported ($0.19) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.08. The firm had revenue of $142.80 million during the quarter, compared to the consensus estimate of $181.48 million. Steven Madden had a return on equity of 10.70% and a net margin of 2.56%. The company’s revenue for the quarter was down 67.9% on a year-over-year basis. During the same quarter last year, the company posted $0.47 EPS. Analysts expect that Steven Madden will post 0.52 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in SHOO. Wellington Management Group LLP lifted its position in Steven Madden by 43.1% in the first quarter. Wellington Management Group LLP now owns 5,810,946 shares of the textile maker’s stock valued at $134,988,000 after purchasing an additional 1,750,260 shares during the last quarter. Norges Bank bought a new stake in Steven Madden in the fourth quarter valued at approximately $54,403,000. Deutsche Bank AG increased its stake in shares of Steven Madden by 3,043.9% during the first quarter. Deutsche Bank AG now owns 1,182,371 shares of the textile maker’s stock valued at $27,466,000 after buying an additional 1,144,763 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Steven Madden by 150.8% during the fourth quarter. Nuveen Asset Management LLC now owns 882,526 shares of the textile maker’s stock valued at $37,957,000 after buying an additional 530,697 shares during the period. Finally, Janus Henderson Group PLC increased its stake in shares of Steven Madden by 36.7% during the first quarter. Janus Henderson Group PLC now owns 1,224,586 shares of the textile maker’s stock valued at $28,447,000 after buying an additional 328,648 shares during the period. Hedge funds and other institutional investors own 92.26% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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