Steven Madden’s (SHOO) “Outperform” Rating Reiterated at Telsey Advisory Group

Telsey Advisory Group reaffirmed their outperform rating on shares of Steven Madden (NASDAQ:SHOO) in a research report released on Thursday,Benzinga reports. They currently have a $50.00 price target on the textile maker’s stock.

Other research analysts have also issued research reports about the company. Wall Street Zen upgraded Steven Madden from a “sell” rating to a “hold” rating in a research report on Saturday, November 1st. UBS Group restated a “neutral” rating and set a $43.00 price objective on shares of Steven Madden in a report on Tuesday, December 9th. Piper Sandler upped their price objective on Steven Madden from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Steven Madden in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group lowered shares of Steven Madden from a “hold” rating to an “underperform” rating and set a $30.00 target price for the company. in a research note on Thursday, February 5th. Five 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 MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.63.

Steven Madden Trading Up 1.9%

Shares of SHOO opened at $39.89 on Thursday. The company’s fifty day simple moving average is $42.47 and its 200-day simple moving average is $37.08. The company has a market cap of $2.90 billion, a P/E ratio of 50.49 and a beta of 1.11. The company has a current ratio of 1.91, a quick ratio of 1.08 and a debt-to-equity ratio of 0.33. Steven Madden has a twelve month low of $19.05 and a twelve month high of $46.88.

Institutional Investors Weigh In On Steven Madden

Several hedge funds have recently modified their holdings of SHOO. AQR Capital Management LLC purchased a new position in Steven Madden during the first quarter valued at approximately $752,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Steven Madden by 3.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,919 shares of the textile maker’s stock valued at $1,143,000 after acquiring an additional 1,437 shares during the period. Millennium Management LLC increased its holdings in shares of Steven Madden by 1,170.4% in the 1st quarter. Millennium Management LLC now owns 617,049 shares of the textile maker’s stock valued at $16,438,000 after acquiring an additional 568,477 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Steven Madden by 5.5% during 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 worth $5,388,000 after purchasing an additional 10,603 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Steven Madden by 273.1% during the first 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 in the last quarter. Hedge funds and other institutional investors own 99.88% of the company’s stock.

About Steven Madden

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.