Steven Madden’s (SHOO) Market Perform Rating Reaffirmed at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO)‘s stock had its “market perform” rating restated by stock analysts at Telsey Advisory Group in a report released on Wednesday, Benzinga reports. They presently have a $50.00 price objective on the textile maker’s stock. Telsey Advisory Group’s target price points to a potential upside of 10.82% from the stock’s previous close.

Several other research firms have also issued reports on SHOO. Wedbush reiterated a “neutral” rating and issued a $41.00 target price on shares of Steven Madden in a research note on Wednesday, August 7th. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler reissued a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $45.14.

Steven Madden Stock Down 1.7 %

Shares of SHOO stock opened at $45.12 on Wednesday. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 18.42 and a beta of 1.08. Steven Madden has a 52-week low of $31.56 and a 52-week high of $50.01. The company’s 50 day moving average is $46.36 and its 200 day moving average is $43.90.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.06. The business had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. Steven Madden had a return on equity of 23.49% and a net margin of 8.36%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS. Analysts anticipate that Steven Madden will post 2.62 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SHOO. Fidelis Capital Partners LLC acquired a new stake in shares of Steven Madden during the first quarter worth $47,000. Central Pacific Bank Trust Division purchased a new stake in Steven Madden during the 1st quarter valued at about $170,000. GSA Capital Partners LLP increased its holdings in shares of Steven Madden by 456.9% in the first quarter. GSA Capital Partners LLP now owns 34,017 shares of the textile maker’s stock valued at $1,438,000 after purchasing an additional 27,909 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of Steven Madden by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 61,378 shares of the textile maker’s stock valued at $2,595,000 after purchasing an additional 794 shares during the period. Finally, Gallacher Capital Management LLC purchased a new position in shares of Steven Madden in the first quarter worth about $401,000. Institutional investors and hedge funds own 99.88% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.