Telsey Advisory Group Reaffirms Outperform Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “outperform” rating reiterated by stock analysts at Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $50.00 target price on the textile maker’s stock. Telsey Advisory Group’s target price points to a potential upside of 29.00% from the company’s current price.

Other equities analysts also recently issued reports about the stock. UBS Group restated a “neutral” rating and set a $43.00 target price on shares of Steven Madden in a report on Tuesday, December 9th. Jefferies Financial Group lowered shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research note on Thursday. Zacks Research raised shares of Steven Madden from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. BTIG Research reiterated a “buy” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday. Finally, Citigroup reissued a “buy” rating and set a $41.00 price target (up previously from $32.00) on shares of Steven Madden in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.63.

Steven Madden Price Performance

Shares of NASDAQ SHOO opened at $38.76 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.08. The business has a 50-day moving average of $43.68 and a 200-day moving average of $36.04. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 49.06 and a beta of 1.11. Steven Madden has a fifty-two week low of $19.05 and a fifty-two week high of $46.88.

Steven Madden (NASDAQ:SHOO) last issued its quarterly 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 company had revenue of $667.88 million for the quarter, compared to analyst estimates of $697.89 million. Steven Madden had a net margin of 2.38% and a return on equity of 14.28%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the company posted $0.91 earnings per share. As a group, sell-side analysts predict that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Several hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Steven Madden by 86.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock worth $25,000 after acquiring an additional 485 shares during the period. SBI Securities Co. Ltd. acquired a new stake in Steven Madden during the 3rd quarter worth approximately $31,000. First Horizon Corp boosted its stake in Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 317 shares during the period. Farther Finance Advisors LLC grew its holdings in Steven Madden by 79.4% in the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock valued at $41,000 after buying an additional 435 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in Steven Madden by 616.8% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,136 shares of the textile maker’s stock valued at $72,000 after buying an additional 1,838 shares in the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.