The stock of Steven Madden, Ltd. (NASDAQ:SHOO) is now priced at $20.91 and the shares are -0.27 points down or -1.27% lower compared to its previous closing price of $21.18. The stock had 1.183 million contracts set over the past session. SHOO shares’ daily volume is compared to its average trading volume at 0.875 million shares. However, it has a float of 77.03 million and although its performance was -6.4% over the week, it’s one to watch. Analysts have given the SHOO stock a yearly average price target of $23.1 per share. It means the stock’s upside potential is 10.47% with the SHOO share price recently placing at $20.245 to $21.2. However, some brokerage firms have priced the stock below the average, including one that has called $20.
The shorts are running away from the Steven Madden, Ltd. stock, with the latest data on short interest released on July 15, 2020, showing that short interest numbers in the SHOO shares have declined. Short interest in the stock represents just 4.62% of its float, but the volume has dropped by -976270. The volume of shorted shares dropped to 3.559 million from 4.535 million shares over the last two weeks. The average intraday trading volume has been 565392 shares, which means that days to cover moved to roughly 6.293927.
In the last trading session, Steven Madden, Ltd. (NASDAQ:SHOO) dropped by -$1.43 over the week and lost -$2.94 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $44.79. The stock recorded its established 52-week high on 11/19/19.
Since 03/18/20, the stock has traded to a low of $16.38 at 27.66%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.09. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Steven Madden, Ltd.’s two-week RSI is 36. This suggests that the stock is neutral at the moment and that SHOO shares’ price movement remains stable. The stochastic readings are equally revealing at 21.98% meaning the SHOO share price is currently in overbought territory.
The technical chart shows that the SHOO stock will likely settle at between $21.33 and $21.74 per share. However, if the stock dips below $20.37, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $19.83.
Currently, the stock is trading in the red of MACD, with a reading of -0.7. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned SHOO a rating of Neutral in their intiating review released on July 22. Telsey Advisory Group analysts see the stock as a Market Perform, but they also dropped the share’s target price from $30 to $23 in a flash note released to investors on May 22. Wells Fargo seeing the stock struggling downgraded it from Equal Weight to Underweight on May 14 placing it at $26 to $18.
The average rating for the SHOO equity is 3 and is currently gathering a bullish momentum. Of 13 analysts tracking Steven Madden, Ltd. polled by Reuters, 11 rated SHOO as a hold. The remaining 2 analysts were split evenly. However, the split wasn’t equal as a majority (1) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the SHOO stock price is 14.12X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 51 below the group’s average of 51.7. Steven Madden, Ltd. has its P/E ratio at 2.3, which means that the stock is currently trading at a discount relative to the 10.1 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Steven Madden, Ltd. (NASDAQ:SHOO) will decrease by about -99.76%, which will see them reach $335.31 million. The company’s full-year revenues are, however, expected to diminish by about -33.33%, down from $1770 million to $1180 million. SHOO’s expected adjusted earnings should drop almost -68.66% to end up at $0.21 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -81.03% to record $0.37/share.