Steven Madden’s (SHOO) Buy Rating Reaffirmed at BTIG Research

Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $50.00 target price on the textile maker’s stock. BTIG Research’s price objective would suggest a potential upside of 27.68% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Piper Sandler boosted their target price on shares of Steven Madden from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Wall Street Zen raised Steven Madden from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. UBS Group reissued a “neutral” rating and issued a $43.00 target price on shares of Steven Madden in a research note on Tuesday, December 9th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $50.00 price target on shares of Steven Madden in a research note on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $43.63.

Steven Madden Trading Down 0.7%

Shares of SHOO stock opened at $39.16 on Thursday. 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 $2.85 billion, a P/E ratio of 49.57 and a beta of 1.11. The firm has a 50-day moving average price of $42.66 and a 200 day moving average price of $36.88. The company has a quick ratio of 1.08, a current ratio of 1.91 and a debt-to-equity ratio of 0.33.

Institutional Investors Weigh In On Steven Madden

Several large investors have recently bought and sold shares of SHOO. Mercer Global Advisors Inc. ADV bought a new position in shares of Steven Madden during the fourth quarter worth $214,000. Summit Global Investments acquired a new stake in Steven Madden during the 4th quarter worth $212,000. EP Wealth Advisors LLC bought a new position in Steven Madden during the fourth quarter worth about $390,000. Millennium Management LLC grew its stake in Steven Madden by 306.7% in the fourth quarter. Millennium Management LLC now owns 235,469 shares of the textile maker’s stock valued at $9,805,000 after acquiring an additional 349,401 shares during the period. Finally, Governors Lane LP bought a new stake in shares of Steven Madden in the fourth quarter worth about $5,763,000. Institutional investors 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.