Steven Madden (NASDAQ:SHOO) Receives Buy Rating from BTIG Research

Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating reaffirmed by investment analysts at BTIG Research in a research note issued to investors on Thursday,Benzinga reports. They currently have a $50.00 price target on the textile maker’s stock. BTIG Research’s price target suggests a potential upside of 27.68% from the company’s current price.

SHOO has been the topic of a number of other reports. Piper Sandler lifted their price objective on shares of Steven Madden from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Telsey Advisory Group reissued an “outperform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of Steven Madden from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Jefferies Financial Group cut Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective for the company. in a report on Thursday, February 5th. Finally, Zacks Research lowered Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Steven Madden has a consensus rating of “Hold” and a consensus price target of $43.63.

Steven Madden Price Performance

SHOO stock opened at $39.16 on Thursday. The stock has a 50-day moving average price of $42.66 and a two-hundred day moving average price of $36.88. Steven Madden has a 1 year low of $19.05 and a 1 year high of $46.88. The stock has a market cap of $2.85 billion, a PE ratio of 49.57 and a beta of 1.11. The company has a current ratio of 1.91, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC acquired a new position in Steven Madden in the 1st quarter valued at $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Steven Madden by 3.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker’s stock valued at $1,143,000 after acquiring an additional 1,437 shares during the period. Millennium Management LLC grew its stake in shares of 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 acquiring an additional 568,477 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Steven Madden by 5.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker’s stock valued at $5,388,000 after acquiring an additional 10,603 shares in the last quarter. Finally, Jane Street Group LLC increased its position in Steven Madden by 273.1% during the first quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker’s stock worth $4,196,000 after acquiring an additional 115,284 shares during the period. Institutional investors own 99.88% of the company’s stock.

About Steven Madden

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.