Steven Madden’s (SHOO) “Buy” Rating Reaffirmed at BTIG Research

Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating reissued by BTIG Research in a research note issued on Thursday,Benzinga reports. They currently have a $50.00 price target on the textile maker’s stock. BTIG Research’s price target suggests a potential upside of 29.00% from the stock’s previous close.

SHOO has been the topic of a number of other research reports. Weiss Ratings restated a “hold (c)” rating on shares of Steven Madden in a research note on Thursday, January 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and set a $50.00 price target on shares of Steven Madden in a research report on Wednesday, December 17th. Jefferies Financial Group downgraded shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price target for the company. in a report on Thursday. Finally, Zacks Research upgraded shares of Steven Madden from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.63.

Steven Madden Price Performance

SHOO opened at $38.76 on Thursday. Steven Madden has a twelve month low of $19.05 and a twelve month high of $46.88. The company has a current ratio of 1.91, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 49.06 and a beta of 1.11. The company has a fifty day simple moving average of $43.68 and a 200 day simple moving average of $36.04.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Wednesday, November 5th. The textile maker reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). Steven Madden had a net margin of 2.38% and a return on equity of 14.28%. The business had revenue of $667.88 million during the quarter, compared to analysts’ expectations of $697.89 million. During the same period in the prior year, the company posted $0.91 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Steven Madden by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,283,806 shares of the textile maker’s stock valued at $277,342,000 after purchasing an additional 200,013 shares during the period. Wellington Management Group LLP boosted its stake in Steven Madden by 18.1% during the third quarter. Wellington Management Group LLP now owns 3,453,208 shares of the textile maker’s stock valued at $115,613,000 after buying an additional 528,829 shares in the last quarter. Capital Research Global Investors grew its holdings in Steven Madden by 14.0% during the third quarter. Capital Research Global Investors now owns 2,720,354 shares of the textile maker’s stock worth $91,077,000 after acquiring an additional 334,058 shares during the period. Dimensional Fund Advisors LP raised its position in Steven Madden by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 2,450,539 shares of the textile maker’s stock worth $82,046,000 after acquiring an additional 41,947 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Steven Madden by 50.5% in the 2nd quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock worth $58,198,000 after purchasing an additional 814,318 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.