Steven Madden (NASDAQ:SHOO) Downgraded by BidaskClub

Steven Madden (NASDAQ:SHOO) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday, BidAskClub reports.

A number of other research firms have also recently commented on SHOO. Telsey Advisory Group reaffirmed a “market perform” rating and set a $36.00 price objective (down from $38.00) on shares of Steven Madden in a research report on Thursday, June 6th. Piper Jaffray Companies set a $9.00 price objective on shares of FTS International and gave the stock a “buy” rating in a research report on Tuesday, May 14th. Canaccord Genuity set a $107.00 price objective on shares of Columbia Sportswear and gave the stock a “hold” rating in a research report on Friday, April 26th. B. Riley reissued a “buy” rating on shares of Skechers USA in a research report on Friday, April 26th. Finally, ValuEngine raised shares of Vermillion from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. Steven Madden currently has an average rating of “Hold” and a consensus price target of $35.23.

SHOO stock opened at $32.90 on Friday. The stock’s fifty day moving average is $32.19. Steven Madden has a one year low of $27.88 and a one year high of $39.30. The company has a market capitalization of $2.75 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.94 and a beta of 0.82.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Thursday, April 25th. The textile maker reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. The firm had revenue of $410.90 million during the quarter, compared to analysts’ expectations of $404.31 million. During the same period in the previous year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, analysts expect that Steven Madden will post 1.84 earnings per share for the current fiscal year.

In other news, Director Robert Garrett Smith sold 9,267 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $31.00, for a total value of $287,277.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rose Peabody Lynch sold 2,760 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $35.83, for a total transaction of $98,890.80. The disclosure for this sale can be found here. In the last three months, insiders sold 17,417 shares of company stock valued at $567,204. 1.96% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in SHOO. Macquarie Group Ltd. raised its stake in Steven Madden by 56.1% in the fourth quarter. Macquarie Group Ltd. now owns 3,600,261 shares of the textile maker’s stock valued at $108,949,000 after purchasing an additional 1,293,591 shares in the last quarter. FMR LLC raised its stake in Steven Madden by 54.3% in the fourth quarter. FMR LLC now owns 3,120,538 shares of the textile maker’s stock valued at $94,428,000 after purchasing an additional 1,097,757 shares in the last quarter. Victory Capital Management Inc. raised its stake in Steven Madden by 2.7% in the first quarter. Victory Capital Management Inc. now owns 2,710,023 shares of the textile maker’s stock valued at $91,707,000 after purchasing an additional 72,423 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Steven Madden by 50.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,470,104 shares of the textile maker’s stock valued at $74,745,000 after purchasing an additional 828,499 shares in the last quarter. Finally, Norges Bank acquired a new position in Steven Madden in the fourth quarter valued at about $41,764,000. 96.06% of the stock is owned by institutional investors.

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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