Steven Madden (NASDAQ:SHOO) Stock Price Target Cut by Telsey Advisory Group

Steven Madden (NASDAQ:SHOO) had its price objective dropped by analysts at Telsey Advisory Group from $55.00 to $50.00 in a report issued on Friday, Benzinga reports. The firm presently has an “outperform” rating on the textile maker’s stock. Telsey Advisory Group‘s price target suggests a potential upside of 26.58% from the company’s current price.

Several other research analysts have also weighed in on the stock. Jefferies Financial Group raised shares of Steven Madden from an “underperform” rating to a “hold” rating and set a $36.00 target price for the company in a research note on Friday. Weiss Ratings lowered shares of Steven Madden from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 30th. Zacks Research cut shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Piper Sandler set a $55.00 target price on shares of Steven Madden and gave the company an “overweight” rating in a report on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of Steven Madden from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Steven Madden currently has a consensus rating of “Moderate Buy” and an average price target of $51.70.

Steven Madden Stock Performance

NASDAQ SHOO opened at $39.50 on Friday. The stock has a market cap of $2.89 billion, a PE ratio of 16.32 and a beta of 1.14. The company has a current ratio of 1.86, a quick ratio of 1.12 and a debt-to-equity ratio of 0.12. Steven Madden has a twelve month low of $31.33 and a twelve month high of $49.70. The stock has a fifty day simple moving average of $43.69 and a 200-day simple moving average of $41.38.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings data on Thursday, November 5th. The textile maker reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.06. The firm had revenue of $772.61 million during the quarter, compared to the consensus estimate of $774.35 million. Steven Madden had a return on equity of 16.19% and a net margin of 6.16%. The company’s quarterly revenue was up 15.0% on a year-over-year basis. During the same period last year, the company earned $0.43 EPS. Equities analysts anticipate that Steven Madden will post 2.20 earnings per share for the current year.

Institutional Trading of Steven Madden

Several hedge funds have recently added to or reduced their stakes in the company. Neumeier Poma Investment Counsel LLC acquired a new position in Steven Madden in the second quarter valued at approximately $49,890,563. Aberdeen Group plc raised its holdings in Steven Madden by 262.4% during the third quarter. Aberdeen Group plc now owns 1,094,798 shares of the textile maker’s stock worth $49,014,000 after purchasing an additional 792,676 shares in the last quarter. Vise Technologies Inc. acquired a new stake in Steven Madden during the third quarter worth approximately $29,302,000. Bank of New York Mellon Corp purchased a new stake in shares of Steven Madden during the 2nd quarter worth approximately $25,618,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Steven Madden by 4.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,353,331 shares of the textile maker’s stock worth $79,819,000 after buying an additional 99,066 shares during the last quarter. Institutional investors and hedge funds own 99.88% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources and markets footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson.

The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets.

Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.