Steven Madden (NASDAQ:SHOO) Rating Reiterated by Wedbush

Steven Madden (NASDAQ:SHOO)‘s stock had its “neutral” rating restated by equities researchers at Wedbush in a research note issued on Wednesday, Benzinga reports. They presently have a $41.00 target price on the textile maker’s stock. Wedbush’s target price points to a potential downside of 4.38% from the stock’s previous close. Wedbush also issued estimates for Steven Madden’s Q3 2024 earnings at $0.93 EPS.

Several other equities analysts also recently issued reports on the stock. Telsey Advisory Group reissued a “market perform” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, July 31st. BTIG Research increased their price target on shares of Steven Madden from $50.00 to $53.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.29.

Steven Madden Trading Down 0.3 %

Shares of Steven Madden stock traded down $0.14 on Wednesday, reaching $42.88. 156,359 shares of the stock were exchanged, compared to its average volume of 737,927. The firm has a market capitalization of $3.15 billion, a PE ratio of 17.78 and a beta of 1.09. Steven Madden has a 1-year low of $30.35 and a 1-year high of $47.24. The business has a fifty day moving average price of $43.50 and a two-hundred day moving average price of $42.31.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, beating the consensus estimate of $0.51 by $0.06. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business had revenue of $523.60 million during the quarter, compared to analysts’ expectations of $515.15 million. During the same period last year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. Research analysts expect that Steven Madden will post 2.62 EPS for the current year.

Insider Activity at Steven Madden

In other news, Director Rose Peabody Lynch sold 1,600 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.41, for a total value of $71,056.00. Following the completion of the transaction, the director now owns 21,303 shares of the company’s stock, valued at $946,066.23. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Steven Madden news, Director Peter Migliorini sold 3,000 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $43.81, for a total transaction of $131,430.00. Following the completion of the transaction, the director now directly owns 16,006 shares of the company’s stock, valued at approximately $701,222.86. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rose Peabody Lynch sold 1,600 shares of Steven Madden stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $44.41, for a total value of $71,056.00. Following the transaction, the director now owns 21,303 shares in the company, valued at $946,066.23. The disclosure for this sale can be found here. Insiders have sold a total of 14,600 shares of company stock worth $651,586 in the last ninety days. 2.08% of the stock is owned by insiders.

Institutional Investors Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in Steven Madden in the 4th quarter worth about $32,000. Blue Trust Inc. raised its position in Steven Madden by 9,166.7% in the second quarter. Blue Trust Inc. now owns 834 shares of the textile maker’s stock worth $35,000 after purchasing an additional 825 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Steven Madden in the first quarter valued at about $47,000. International Assets Investment Management LLC raised its position in Steven Madden by 4,100.0% in the 4th quarter. International Assets Investment Management LLC now owns 1,638 shares of the textile maker’s stock valued at $69,000 after purchasing an additional 1,599 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Steven Madden during the 1st quarter worth about $81,000. 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.