Steven Madden (NASDAQ:SHOO) Given Outperform Rating at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO)‘s stock had its “outperform” rating reaffirmed by stock analysts at Telsey Advisory Group in a report issued on Thursday,Benzinga reports. They currently have a $50.00 price target on the textile maker’s stock. Telsey Advisory Group’s price objective indicates a potential upside of 27.68% from the stock’s previous close.

A number of other equities research analysts also recently commented on SHOO. BTIG Research reissued a “buy” rating and issued a $50.00 target price on shares of Steven Madden in a report on Thursday. Jefferies Financial Group lowered Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target on the stock. in a research note on Thursday, February 5th. Piper Sandler increased their price target 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, February 4th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.63.

Steven Madden Price Performance

Steven Madden stock opened at $39.16 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.91. The stock has a market capitalization of $2.85 billion, a P/E ratio of 49.57 and a beta of 1.11. Steven Madden has a 1 year low of $19.05 and a 1 year high of $46.88. The company’s fifty day moving average price is $42.66 and its 200 day moving average price is $36.88.

Institutional Investors Weigh In On Steven Madden

Several hedge funds have recently added to or reduced their stakes in SHOO. EverSource Wealth Advisors LLC increased its position in Steven Madden by 86.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock valued at $25,000 after buying an additional 485 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Steven Madden during the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of Steven Madden in the third quarter worth approximately $31,000. Global Retirement Partners LLC lifted its holdings in shares of Steven Madden by 1,064.3% in the fourth quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock valued at $34,000 after purchasing an additional 745 shares in the last quarter. Finally, First Horizon Corp boosted its position in shares of Steven Madden by 55.1% during the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after buying an additional 317 shares during 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.