BTIG Research Reiterates “Buy” Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating reiterated by analysts at BTIG Research in a research note issued on Thursday,Benzinga reports. They currently have a $50.00 price objective on the textile maker’s stock. BTIG Research’s price target points to a potential upside of 25.34% from the company’s current price.

A number of other brokerages have also issued reports on SHOO. Zacks Research lowered Steven Madden from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 5th. Wall Street Zen raised shares of Steven Madden from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. UBS Group reaffirmed a “neutral” rating and issued a $43.00 price target on shares of Steven Madden in a report on Tuesday, December 9th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Steven Madden in a report on Wednesday, February 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Steven Madden in a report on Thursday, January 22nd. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $43.63.

Steven Madden Stock Up 1.9%

Shares of NASDAQ SHOO opened at $39.89 on Thursday. 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 1 year low of $19.05 and a 1 year high of $46.88. The stock’s 50-day simple moving average is $42.47 and its 200-day simple moving average is $37.00. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 50.49 and a beta of 1.11.

Institutional Investors Weigh In On Steven Madden

Hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in shares of Steven Madden by 86.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker’s stock worth $25,000 after acquiring an additional 485 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Steven Madden in the 4th quarter valued at about $30,000. SBI Securities Co. Ltd. acquired a new position in Steven Madden during the 3rd quarter valued at about $31,000. Global Retirement Partners LLC grew its position in Steven Madden by 1,064.3% in the 4th quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock worth $34,000 after purchasing an additional 745 shares during the last quarter. Finally, First Horizon Corp increased its stake in shares of Steven Madden by 55.1% in the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after purchasing an additional 317 shares during the period. 99.88% of the stock is currently owned by institutional investors.

Steven Madden Company Profile

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.