Steven Madden (NASDAQ:SHOO) Stock Price Expected to Rise, UBS Group Analyst Says

Steven Madden (NASDAQ:SHOO) had its target price lifted by research analysts at UBS Group from $22.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the textile maker’s stock. UBS Group’s price objective would suggest a potential upside of 0.09% from the company’s previous close.

A number of other analysts have also weighed in on the company. Telsey Advisory Group restated a “market perform” rating and issued a $24.00 target price on shares of Steven Madden in a research note on Thursday. Jefferies Financial Group restated a “hold” rating on shares of Steven Madden in a research report on Monday, February 3rd. Loop Capital reduced their target price on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a report on Friday, May 2nd. Finally, Piper Sandler dropped their price objective on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Nine equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $32.00.

Steven Madden Stock Down 3.6 %

NASDAQ:SHOO opened at $22.98 on Thursday. The firm has a market cap of $1.67 billion, a PE ratio of 9.78 and a beta of 1.04. Steven Madden has a 12 month low of $19.05 and a 12 month high of $50.01. The company’s 50-day moving average price is $23.61 and its two-hundred day moving average price is $35.52.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.46 by $0.14. The business had revenue of $551.38 million for the quarter, compared to the consensus estimate of $557.81 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. Steven Madden’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. On average, research analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Barclays PLC lifted its stake in Steven Madden by 286.9% in the third quarter. Barclays PLC now owns 139,206 shares of the textile maker’s stock valued at $6,819,000 after buying an additional 103,226 shares during the period. Tidal Investments LLC raised its position in shares of Steven Madden by 15.1% in the 3rd quarter. Tidal Investments LLC now owns 17,375 shares of the textile maker’s stock valued at $851,000 after acquiring an additional 2,278 shares during the period. JPMorgan Chase & Co. boosted its stake in Steven Madden by 5.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 462,096 shares of the textile maker’s stock worth $22,638,000 after acquiring an additional 21,942 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Steven Madden by 1.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 124,271 shares of the textile maker’s stock valued at $5,284,000 after purchasing an additional 2,266 shares during the period. Finally, Moody National Bank Trust Division increased its stake in Steven Madden by 21.3% in the fourth quarter. Moody National Bank Trust Division now owns 11,983 shares of the textile maker’s stock valued at $510,000 after purchasing an additional 2,107 shares in 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 fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.