Steven Madden (NASDAQ:SHOO) Given "Market Perform" Rating at Telsey Advisory Group

Steven Madden (NASDAQ:SHOO - Get Free Report)'s stock had its "market perform" rating reissued by Telsey Advisory Group in a research report issued on Wednesday, Benzinga reports. They presently have a $50.00 price target on the textile maker's stock. Telsey Advisory Group's price target points to a potential upside of 10.89% from the stock's previous close.

Other analysts also recently issued reports about the stock. Wedbush reiterated a "neutral" rating and issued a $41.00 target price on shares of Steven Madden in a report on Wednesday, August 7th. StockNews.com raised shares of Steven Madden from a "hold" rating to a "buy" rating in a research report on Wednesday, September 18th. Finally, Piper Sandler reissued a "neutral" rating and issued a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $45.14.

Steven Madden Trading Down 0.1 %

NASDAQ:SHOO traded down $0.03 during mid-day trading on Wednesday, hitting $45.09. The stock had a trading volume of 482,540 shares, compared to its average volume of 696,464. Steven Madden has a 52 week low of $31.56 and a 52 week high of $50.01. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 18.40 and a beta of 1.08. The company has a 50 day simple moving average of $46.37 and a 200-day simple moving average of $43.91.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The textile maker reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.06. Steven Madden had a net margin of 8.36% and a return on equity of 23.49%. The company had revenue of $523.60 million for the quarter, compared to the consensus estimate of $515.15 million. During the same period in the previous year, the firm earned $0.47 EPS. Steven Madden's revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts anticipate that Steven Madden will post 2.62 earnings per share for the current year.

Hedge Funds Weigh In On Steven Madden

Large investors have recently bought and sold shares of the stock. Blue Trust Inc. grew its holdings in shares of Steven Madden by 9,166.7% in the 2nd quarter. Blue Trust Inc. now owns 834 shares of the textile maker's stock worth $35,000 after purchasing an additional 825 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Steven Madden in the 1st quarter valued at approximately $47,000. Exchange Traded Concepts LLC acquired a new stake in shares of Steven Madden in the 3rd quarter valued at approximately $59,000. GAMMA Investing LLC increased its stake in Steven Madden by 80.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker's stock worth $65,000 after purchasing an additional 593 shares in the last quarter. Finally, EntryPoint Capital LLC bought a new stake in Steven Madden during the 1st quarter worth approximately $81,000. 99.88% of the stock is currently owned by institutional investors and hedge funds.

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.