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

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

A number of other analysts have also issued reports on SHOO. Piper Sandler boosted their price target on shares of Steven Madden from $40.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Zacks Research lowered shares of Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. BTIG Research restated a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research note on Thursday. Jefferies Financial Group lowered Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 price objective on the stock. in a research report on Thursday, February 5th. Finally, Wall Street Zen upgraded Steven Madden from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.63.

Steven Madden Stock Up 1.9%

Steven Madden stock opened at $39.89 on Thursday. The company has a market capitalization of $2.90 billion, a PE ratio of 50.49 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 fifty-two week low of $19.05 and a fifty-two week high of $46.88. The firm has a 50 day moving average price of $42.47 and a 200 day moving average price of $37.00.

Hedge Funds Weigh In On Steven Madden

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC acquired a new position in shares of Steven Madden in the 1st quarter valued at $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Steven Madden by 3.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker’s stock worth $1,143,000 after purchasing an additional 1,437 shares during the last quarter. Millennium Management LLC increased its position in shares of 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 purchasing an additional 568,477 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Steven Madden by 5.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,270 shares of the textile maker’s stock valued at $5,388,000 after purchasing an additional 10,603 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Steven Madden by 273.1% in the 1st quarter. Jane Street Group LLC now owns 157,492 shares of the textile maker’s stock valued at $4,196,000 after purchasing an additional 115,284 shares during the last quarter. 99.88% of the stock is currently owned by hedge funds and other 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.