Steven Madden’s (SHOO) Buy Rating Reiterated at BTIG Research

BTIG Research restated their buy rating on shares of Steven Madden (NASDAQ:SHOO) in a report released on Thursday,Benzinga reports. They currently have a $50.00 price target on the textile maker’s stock.

A number of other equities analysts have also weighed in on SHOO. UBS Group restated a “neutral” rating and set a $43.00 price target on shares of Steven Madden in a research report on Tuesday, December 9th. Zacks Research cut Steven Madden from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Steven Madden in a research report on Wednesday, February 4th. Piper Sandler increased their price target on Steven Madden from $40.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. Finally, Wall Street Zen raised Steven Madden from a “sell” rating to a “hold” rating in a research note on Saturday, November 1st. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Steven Madden presently has a consensus rating of “Hold” and a consensus price target of $43.63.

Steven Madden Stock Up 1.9%

Shares of SHOO opened at $39.89 on Thursday. The stock has a 50 day moving average price of $42.47 and a 200 day moving average price of $37.08. Steven Madden has a one year low of $19.05 and a one year high of $46.88. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.91. The stock has a market capitalization 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC acquired a new stake in shares of Steven Madden during the 4th quarter worth about $30,000. Global Retirement Partners LLC increased its position in shares of Steven Madden by 1,064.3% during the fourth quarter. Global Retirement Partners LLC now owns 815 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 745 shares during the last quarter. First Horizon Corp raised its stake in shares of Steven Madden by 55.1% in the 4th quarter. First Horizon Corp now owns 892 shares of the textile maker’s stock valued at $37,000 after acquiring an additional 317 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of Steven Madden in the 3rd quarter valued at approximately $31,000. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Steven Madden by 79.4% in the 4th quarter. Farther Finance Advisors LLC now owns 983 shares of the textile maker’s stock worth $41,000 after acquiring an additional 435 shares during the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

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.