Steven Madden Ltd. (SHOO) : Traders are bullish on Steven Madden Ltd. (SHOO) as it has outperformed the S&P 500 by a wide margin of 4.24% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 0.94%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.91% in the last 1 week, and is up 4.64% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Steven Madden, Ltd. is up 10.5% in the last 3-month period. Year-to-Date the stock performance stands at 20.88%. The stock has recorded a 20-day Moving Average of 4.33% and the 50-Day Moving Average is 5.05%.
Steven Madden Ltd. (NASDAQ:SHOO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $36.13 and $35.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $36.91. The buying momentum continued till the end and the stock did not give up its gains. It closed at $36.53, notching a gain of 1.05% for the day. The total traded volume was 424,850 . The stock had closed at $36.15 on the previous day.
Also, Susquehanna initiates coverage on Steven Madden Ltd. (NASDAQ:SHOO) The brokerage firm has issued a Positive rating on the shares. The Analysts at the ratings agency announces the price target to $42 per share. The rating by the firm was issued on August 12, 2016.
Steven Madden, Ltd. designs, sources, markets and sells name brand and private label footwear for women, men and children. It operates under five segments, which include Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing. Its brands include Madden Girl, Steve Madden Mens, Madden, Steven, Stevies and Steve Madden Kids, Betsey Johnson, Superga, FREEBIRD by Steve, Report, Mad Love, Dolce Vita and Brian Atwood. Its products are marketed through its retail stores and e-commerce Websites, as well as department stores, specialty stores, luxury retailers, value priced retailers, national chains, merchants and catalog retailers throughout the United States, Canada, Mexico and South Africa. In addition, it markets its products in Asia, Australia, Europe, India, the Middle East, South and Central America and New Zealand. The Companys subsidiaries include Steven Madden Retail, Inc. and BA Brand Holdings LLC, among others.