Steven Madden (NASDAQ:SHOO) Upgraded to “Strong-Buy” at Zacks Research

Steven Madden (NASDAQ:SHOO) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Monday,Zacks.com reports.

Several other research firms also recently weighed in on SHOO. Williams Trading set a $48.00 price target on shares of Steven Madden in a research note on Tuesday, March 10th. Needham & Company LLC raised their price objective on Steven Madden from $45.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research report on Tuesday, April 21st. BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday, June 4th. Finally, Wall Street Zen raised Steven Madden from a “hold” rating to a “buy” rating in a research report on Saturday, June 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $45.12.

Steven Madden Stock Up 0.5%

NASDAQ:SHOO opened at $39.89 on Monday. Steven Madden has a twelve month low of $22.26 and a twelve month high of $47.10. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 37.99 and a beta of 1.15. The stock has a fifty day simple moving average of $41.66 and a 200-day simple moving average of $39.94. The company has a current ratio of 2.23, a quick ratio of 1.42 and a debt-to-equity ratio of 0.30.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Wednesday, May 6th. The textile maker reported $0.45 EPS for the quarter, topping the consensus estimate of $0.42 by $0.03. Steven Madden had a net margin of 2.89% and a return on equity of 12.29%. The company had revenue of $653.10 million for the quarter, compared to the consensus estimate of $646.64 million. During the same quarter last year, the firm posted $0.60 EPS. The firm’s revenue was up 18.0% compared to the same quarter last year. Steven Madden has set its FY 2026 guidance at 2.000-2.100 EPS. Analysts anticipate that Steven Madden will post 2.09 EPS for the current year.

Insider Buying and Selling at Steven Madden

In other news, insider Christina Ciglar sold 5,147 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $44.74, for a total transaction of $230,276.78. Following the completion of the sale, the insider owned 35,200 shares in the company, valued at approximately $1,574,848. This represents a 12.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arian Simone Reed sold 648 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $39.97, for a total value of $25,900.56. Following the transaction, the director owned 8,057 shares in the company, valued at approximately $322,038.29. This trade represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 6,270 shares of company stock valued at $276,992. Company insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Steven Madden

Several hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in Steven Madden by 2.6% in the 2nd quarter. GAMMA Investing LLC now owns 9,984 shares of the textile maker’s stock worth $420,000 after purchasing an additional 257 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Steven Madden by 13.9% in the third quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker’s stock worth $78,000 after purchasing an additional 283 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Steven Madden by 1.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 16,640 shares of the textile maker’s stock valued at $693,000 after acquiring an additional 300 shares during the period. First Horizon Corp lifted its position in Steven Madden by 55.1% during the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 317 shares during the period. Finally, Vanguard Personalized Indexing Management LLC raised its position in Steven Madden by 2.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,738 shares of the textile maker’s stock valued at $572,000 after acquiring an additional 321 shares in the last quarter. 99.88% of the stock is owned by hedge funds and other institutional investors.

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.