WWW - Steven Madden: Taking A Step Back (Rating Downgrade)

2024-07-09 17:04:55 ET

Summary

• Steven Madden is a mid-sized player in the shoe industry with a market capitalization of $3.16 billion.
• Despite underperforming the market, the company's revenue growth is anticipated to come in strong this year.
• However, shares now look more or less fairly valued, which means that a downgrade is warranted.

When it comes to the shoe industry, there aren't very many publicly traded companies for investors to choose from. With a market capitalization of $3.16 billion, Steven Madden ( SHOO ) is not exactly a massive player in the space. But it's certainly not small either. In the past, I have been quite bullish about the firm. Unfortunately, since I last reaffirmed my ‘buy’ rating for the stock back in January 2023, the firm has underperformed the broader market. Admittedly, the increase in price has been a rather robust 28.5%. While it falls quite a bit short of the 36.5% increase seen by the S&P 500 over the same window of time....

For further details see: