Steven Madden (NASDAQ:SHOO) Earns “Outperform” Rating from Telsey Advisory Group

Steven Madden (NASDAQ:SHOO)‘s stock had its “outperform” rating restated by equities researchers at Telsey Advisory Group in a research report issued on Thursday,Benzinga reports. They presently have a $50.00 target price on the textile maker’s stock. Telsey Advisory Group’s price objective would indicate a potential upside of 27.68% from the stock’s current price.

Several other equities analysts also recently weighed in on SHOO. Wall Street Zen upgraded shares of Steven Madden from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Jefferies Financial Group lowered shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective for the company. in a research note on Thursday, February 5th. Piper Sandler increased their target price on Steven Madden from $40.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Finally, BTIG Research reiterated a “buy” rating and set a $50.00 price objective on shares of Steven Madden in a research note on Thursday. Five research 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, the stock has an average rating of “Hold” and an average price target of $43.63.

Steven Madden Stock Performance

NASDAQ SHOO opened at $39.16 on Thursday. The company has a market capitalization of $2.85 billion, a PE ratio of 49.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.91. Steven Madden has a 52-week low of $19.05 and a 52-week high of $46.88. The company has a 50-day simple moving average of $42.66 and a 200 day simple moving average of $36.88.

Institutional Trading of Steven Madden

Several hedge funds and other institutional investors have recently bought and sold shares of SHOO. Mercer Global Advisors Inc. ADV purchased a new position in Steven Madden in the 4th quarter worth approximately $214,000. Summit Global Investments bought a new position in Steven Madden in the 4th quarter worth $212,000. EP Wealth Advisors LLC bought a new position in Steven Madden in the fourth quarter worth about $390,000. Millennium Management LLC lifted its stake in shares of Steven Madden by 306.7% in the 4th quarter. Millennium Management LLC now owns 235,469 shares of the textile maker’s stock valued at $9,805,000 after purchasing an additional 349,401 shares during the period. Finally, Governors Lane LP purchased a new position in Steven Madden during the fourth quarter valued at $5,763,000. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.