Steven Madden’s (SHOO) “Buy” Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a research report report published on Tuesday,Benzinga reports. BTIG Research currently has a $55.00 price target on the textile maker’s stock.

Several other research firms also recently commented on SHOO. Capital One Financial set a $60.00 price objective on shares of Steven Madden in a report on Tuesday, September 8th. Wall Street Zen raised Steven Madden from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. BMO Capital Markets began coverage on Steven Madden in a research report on Tuesday, September 8th. They issued an “outperform” rating and a $60.00 target price on the stock. Piper Sandler set a $55.00 price objective on Steven Madden and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded Steven Madden from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $52.30.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $44.93 on Tuesday. The firm has a fifty day moving average price of $44.02 and a 200-day moving average price of $41.46. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.91 and a quick ratio of 1.13. The stock has a market cap of $3.29 billion, a PE ratio of 22.58 and a beta of 1.17. Steven Madden has a 1 year low of $31.33 and a 1 year high of $49.70.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Thursday, July 30th. The textile maker reported $0.44 EPS for the quarter, topping the consensus estimate of $0.33 by $0.11. The firm had revenue of $665.87 million for the quarter, compared to the consensus estimate of $635.39 million. Steven Madden had a net margin of 5.23% and a return on equity of 13.85%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 earnings per share. Equities analysts anticipate that Steven Madden will post 2.15 earnings per share for the current fiscal year.

Insider Activity at Steven Madden

In other Steven Madden news, Director Arian Reed sold 1,250 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $48.76, for a total value of $60,950.00. Following the completion of the sale, the director directly owned 8,196 shares in the company, valued at approximately $399,636.96. This represents a 13.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Al Ferrara sold 3,918 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $48.26, for a total transaction of $189,082.68. Following the transaction, the director owned 26,197 shares in the company, valued at approximately $1,264,267.22. The trade was a 13.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 9,086 shares of company stock worth $440,212. Company insiders own 2.21% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its stake in shares of Steven Madden by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker’s stock worth $79,819,000 after purchasing an additional 99,066 shares during the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in Steven Madden in the second quarter worth about $49,890,563. Bank of America Corp DE lifted its position in shares of Steven Madden by 4.9% during the first quarter. Bank of America Corp DE now owns 751,627 shares of the textile maker’s stock valued at $25,495,000 after buying an additional 35,259 shares during the last quarter. Vise Technologies Inc. purchased a new stake in shares of Steven Madden during the third quarter valued at about $29,302,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Steven Madden by 13.6% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 645,578 shares of the textile maker’s stock valued at $28,903,000 after buying an additional 77,108 shares in the last quarter. 99.88% of the stock is owned by institutional investors.

About Steven Madden

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.