Steven Madden (NASDAQ:SHOO) Price Target Lowered to $44.00 at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO) had its price target reduced by analysts at Telsey Advisory Group from $50.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “market perform” rating on the textile maker’s stock. Telsey Advisory Group’s target price would indicate a potential upside of 17.02% from the stock’s current price.

SHOO has been the topic of a number of other reports. Citigroup upped their price target on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Finally, StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $43.33.

Steven Madden Stock Performance

Shares of Steven Madden stock opened at $37.60 on Tuesday. The stock has a 50 day moving average price of $42.29 and a 200-day moving average price of $44.17. Steven Madden has a one year low of $36.88 and a one year high of $50.01. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 16.00 and a beta of 1.07.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.02. The business had revenue of $624.68 million during the quarter, compared to analyst estimates of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. Sell-side analysts predict that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Steven Madden

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its position in Steven Madden by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock valued at $1,698,000 after acquiring an additional 484 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Steven Madden during the 2nd quarter worth $299,000. Creative Planning boosted its position in Steven Madden by 78.7% during the second quarter. Creative Planning now owns 10,791 shares of the textile maker’s stock valued at $456,000 after purchasing an additional 4,752 shares in the last quarter. GAMMA Investing LLC grew its stake in Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in Steven Madden in the third quarter worth about $59,000. Institutional investors 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.