Steven Madden’s (SHOO) “Outperform” Rating Reiterated at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a report issued on Thursday,Benzinga reports. They presently have a $50.00 price objective on the textile maker’s stock. Telsey Advisory Group’s target price points to a potential upside of 29.00% from the company’s previous close.

A number of other analysts also recently weighed in on SHOO. Citigroup reiterated a “buy” rating and set a $41.00 target price (up from $32.00) on shares of Steven Madden in a research report on Friday, October 17th. Zacks Research raised shares of Steven Madden from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. UBS Group reissued a “neutral” rating and issued a $43.00 target price on shares of Steven Madden in a report on Tuesday, December 9th. Jefferies Financial Group downgraded shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Thursday. Finally, Piper Sandler boosted their price objective on shares of Steven Madden from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Steven Madden currently has an average rating of “Moderate Buy” and an average price target of $43.63.

Steven Madden Stock Performance

NASDAQ SHOO opened at $38.76 on Thursday. The firm has a 50-day moving average price of $43.68 and a two-hundred day moving average price of $36.04. Steven Madden has a 12-month low of $19.05 and a 12-month high of $46.88. The company has a market capitalization of $2.82 billion, a P/E ratio of 49.06 and a beta of 1.11. The company has a quick ratio of 1.08, a current ratio of 1.91 and a debt-to-equity ratio of 0.33.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, November 5th. The textile maker reported $0.43 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.01). The business had revenue of $667.88 million for the quarter, compared to the consensus estimate of $697.89 million. Steven Madden had a return on equity of 14.28% and a net margin of 2.38%.The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.91 earnings per share. Analysts anticipate that Steven Madden will post 2.66 earnings per share for the current year.

Institutional Trading of Steven Madden

A number of hedge funds have recently added to or reduced their stakes in the stock. Scopus Asset Management L.P. bought a new position in shares of Steven Madden in the 3rd quarter valued at $36,451,000. Boston Partners bought a new stake in Steven Madden during the 3rd quarter worth $33,319,000. Invesco Ltd. increased its holdings in Steven Madden by 50.5% in the 2nd quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after purchasing an additional 814,318 shares in the last quarter. Neumeier Poma Investment Counsel LLC raised its position in Steven Madden by 155.9% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock valued at $31,974,000 after purchasing an additional 581,745 shares during the last quarter. Finally, Millennium Management LLC raised its position in Steven Madden by 1,170.4% in the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after purchasing an additional 568,477 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Company Profile

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.