Steven Madden (SHOO) Rating Reiterated by Telsey Advisory Group

Steven Madden (NASDAQ:SHOO)‘s stock had its “outperform” rating reiterated by stock analysts at Telsey Advisory Group in a research note issued on Tuesday, January 9th, Marketbeat.com reports. They currently have a $51.00 target price on the textile maker’s stock, up from their previous target price of $44.00. Telsey Advisory Group’s target price points to a potential upside of 7.03% from the company’s current price.

Several other research firms have also recently weighed in on SHOO. Susquehanna Bancshares restated a “buy” rating and set a $48.00 price target on shares of Steven Madden in a report on Monday, October 23rd. Zacks Investment Research cut shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. ValuEngine cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Buckingham Research dropped their price target on shares of Steven Madden from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 1st. Finally, Canaccord Genuity set a $47.00 price target on shares of Steven Madden and gave the company a “buy” rating in a research note on Tuesday, October 24th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $49.13.

Steven Madden (SHOO) remained flat at $$47.65 during trading hours on Tuesday. The stock had a trading volume of 385,183 shares, compared to its average volume of 449,191. Steven Madden has a twelve month low of $33.50 and a twelve month high of $48.80. The company has a market capitalization of $2,848.78, a P/E ratio of 22.58, a P/E/G ratio of 1.75 and a beta of 0.51.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings results on Tuesday, October 31st. The textile maker reported $0.77 earnings per share for the quarter, hitting the consensus estimate of $0.77. Steven Madden had a net margin of 8.04% and a return on equity of 17.21%. The business had revenue of $441.19 million for the quarter, compared to analysts’ expectations of $441.03 million. During the same period in the previous year, the company earned $0.74 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. analysts anticipate that Steven Madden will post 2.23 earnings per share for the current fiscal year.

In related news, Director Richard P. Randall sold 2,000 shares of the stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $38.05, for a total transaction of $76,100.00. Following the transaction, the director now owns 22,809 shares of the company’s stock, valued at approximately $867,882.45. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Awadhesh K. Sinha sold 6,500 shares of the stock in a transaction on Monday, December 18th. The shares were sold at an average price of $45.03, for a total transaction of $292,695.00. Following the sale, the chief operating officer now directly owns 63,383 shares of the company’s stock, valued at approximately $2,854,136.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,000 shares of company stock worth $1,460,100. 2.06% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in SHOO. Wells Fargo & Company MN boosted its position in Steven Madden by 386.5% during the 2nd quarter. Wells Fargo & Company MN now owns 698,957 shares of the textile maker’s stock valued at $27,924,000 after buying an additional 555,283 shares during the period. Macquarie Group Ltd. boosted its position in Steven Madden by 16.2% during the 2nd quarter. Macquarie Group Ltd. now owns 2,250,031 shares of the textile maker’s stock valued at $89,889,000 after buying an additional 314,205 shares during the period. Old Mutual Global Investors UK Ltd. boosted its position in Steven Madden by 1,756.3% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 309,456 shares of the textile maker’s stock valued at $13,399,000 after buying an additional 292,785 shares during the period. Samlyn Capital LLC purchased a new stake in Steven Madden during the 2nd quarter valued at $7,820,000. Finally, APG Asset Management N.V. purchased a new stake in Steven Madden during the 3rd quarter valued at $7,707,000. 92.98% of the stock is owned by institutional investors and hedge funds.

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Steven Madden Company Profile

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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