Steven Madden (NASDAQ:SHOO) Receives “Buy” Rating from BTIG Research

BTIG Research reiterated their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a research report sent to investors on Thursday morning,Benzinga reports. The firm currently has a $50.00 price target on the textile maker’s stock.

Several other research analysts have also weighed in on SHOO. Piper Sandler lifted their target price on Steven Madden from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Steven Madden in a report on Thursday, January 22nd. UBS Group reiterated a “neutral” rating and issued a $43.00 price target on shares of Steven Madden in a report on Tuesday, December 9th. Finally, Jefferies Financial Group downgraded 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 report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.63.

Steven Madden Stock Down 0.0%

Shares of NASDAQ:SHOO opened at $39.15 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.08. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 49.56 and a beta of 1.11. The company has a 50 day moving average of $42.55 and a 200-day moving average of $36.90. Steven Madden has a one year low of $19.05 and a one year high of $46.88.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently modified their holdings of SHOO. Scopus Asset Management L.P. bought a new position in Steven Madden in the third quarter valued at approximately $36,451,000. Boston Partners acquired a new stake in shares of Steven Madden in the 3rd quarter valued at approximately $33,319,000. Invesco Ltd. grew its stake in shares of Steven Madden by 50.5% in the second quarter. Invesco Ltd. now owns 2,426,926 shares of the textile maker’s stock valued at $58,198,000 after buying an additional 814,318 shares in the last quarter. Neumeier Poma Investment Counsel LLC grew its stake in shares of Steven Madden by 155.9% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 955,010 shares of the textile maker’s stock valued at $31,974,000 after buying an additional 581,745 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in Steven Madden by 1,170.4% during the first quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock worth $16,438,000 after buying an additional 568,477 shares during the last quarter. Institutional investors and hedge funds 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.