Steven Madden (NASDAQ:SHOO) Stock Gets Price Target Reduction from Telsey Advisory Group

Steven Madden (NASDAQ:SHOO) had its target price lowered by equities researchers at Telsey Advisory Group from $55.00 to $50.00 in a report released on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the textile maker’s stock. Telsey Advisory Group‘s price target would indicate a potential upside of 26.58% from the stock’s current price.

A number of other brokerages have also recently issued reports on SHOO. Citigroup reissued a “buy” rating and set a $55.00 price objective (up from $45.00) on shares of Steven Madden in a report on Friday, July 31st. Capital One Financial set a $60.00 target price on shares of Steven Madden in a report on Tuesday, September 8th. Williams Trading set a $56.00 price target on shares of Steven Madden in a report on Monday, August 3rd. UBS Group reissued a “neutral” rating and set a $45.00 price target (up from $40.00) on shares of Steven Madden in a report on Friday, July 31st. Finally, BMO Capital Markets assumed coverage on shares of Steven Madden in a research report on Tuesday, September 8th. They issued an “outperform” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Steven Madden currently has an average rating of “Moderate Buy” and a consensus price target of $51.70.

Steven Madden Price Performance

Steven Madden stock opened at $39.50 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.86 and a quick ratio of 1.12. The company has a market capitalization of $2.89 billion, a PE ratio of 16.32 and a beta of 1.14. Steven Madden has a one year low of $31.33 and a one year high of $49.70. The business has a 50 day simple moving average of $43.69 and a 200 day simple moving average of $41.38.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, November 5th. The textile maker reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. Steven Madden had a return on equity of 16.19% and a net margin of 6.16%. The business had revenue of $772.61 million for the quarter, compared to analyst estimates of $774.35 million. During the same quarter in the previous year, the firm earned $0.43 EPS. Steven Madden’s quarterly revenue was up 15.0% on a year-over-year basis. On average, sell-side analysts forecast that Steven Madden will post 2.20 EPS for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

A number of hedge funds have recently added to or reduced their stakes in SHOO. Integrated Wealth Concepts LLC acquired a new stake in Steven Madden in the 2nd quarter valued at about $32,000. Reyes Financial Architecture Inc. acquired a new position in shares of Steven Madden during the third quarter worth approximately $86,000. Public Employees Retirement System of Ohio bought a new stake in shares of Steven Madden during the second quarter valued at approximately $95,000. Nykredit A S bought a new stake in shares of Steven Madden during the second quarter valued at approximately $128,000. Finally, Versant Capital Management Inc grew its stake in shares of Steven Madden by 17.0% during the third quarter. Versant Capital Management Inc now owns 3,543 shares of the textile maker’s stock valued at $159,000 after purchasing an additional 516 shares during the last quarter. Institutional investors own 99.88% of the company’s stock.

About Steven Madden

Steven Madden, Ltd. designs, sources and markets footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson.

The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets.

Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.