BTIG Research Reaffirms Buy Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating restated by analysts at BTIG Research in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $50.00 price objective on the textile maker’s stock. BTIG Research’s price objective points to a potential upside of 33.33% from the company’s current price.

A number of other brokerages also recently issued reports on SHOO. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $50.00 target price on shares of Steven Madden in a research note on Thursday, February 26th. Needham & Company LLC cut their price objective on Steven Madden from $50.00 to $41.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Zacks Research raised Steven Madden from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 8th. Williams Trading set a $48.00 price objective on Steven Madden in a research report on Tuesday, March 10th. Finally, Jefferies Financial Group downgraded Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research report on Thursday, February 5th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.75.

Steven Madden Stock Down 0.2%

Shares of SHOO opened at $37.50 on Thursday. Steven Madden has a 52-week low of $19.75 and a 52-week high of $46.88. The company has a market capitalization of $2.74 billion, a PE ratio of 60.48 and a beta of 1.12. The stock has a fifty day simple moving average of $35.71 and a two-hundred day simple moving average of $38.85. The company has a quick ratio of 1.11, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO) last issued its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. Steven Madden had a return on equity of 13.60% and a net margin of 1.76%.The business had revenue of $753.70 million during the quarter, compared to the consensus estimate of $758.53 million. During the same period last year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, equities analysts forecast that Steven Madden will post 2.09 EPS for the current year.

Insider Activity

In related news, Director Arian Simone Reed sold 3,600 shares of the firm’s stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $33.44, for a total transaction of $120,384.00. Following the completion of the sale, the director directly owned 8,705 shares of the company’s stock, valued at approximately $291,095.20. This trade represents a 29.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.21% of the company’s stock.

Hedge Funds Weigh In On Steven Madden

Several institutional investors have recently bought and sold shares of SHOO. AQR Capital Management LLC acquired a new position in Steven Madden in the 1st quarter valued at about $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Steven Madden by 3.5% in the 1st 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 in the last quarter. Millennium Management LLC grew its position in Steven Madden by 1,170.4% in the 1st 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 position in Steven Madden by 5.5% in the 1st 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 grew its position in Steven Madden by 273.1% in the 1st quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker’s stock valued at $4,196,000 after acquiring an additional 115,284 shares in the last quarter. 99.88% of the stock is 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.