Telsey Advisory Group Has Lowered Expectations for Steven Madden (NASDAQ:SHOO) Stock Price

Steven Madden (NASDAQ:SHOO - Get Free Report) had its price objective dropped by equities researchers at Telsey Advisory Group from $50.00 to $44.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "market perform" rating on the textile maker's stock. Telsey Advisory Group's price objective would suggest a potential upside of 18.31% from the company's current price.

A number of other analysts have also recently weighed in on SHOO. Citigroup upped their target price on shares of Steven Madden from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a report on Thursday, December 5th. Finally, StockNews.com lowered Steven Madden from a "buy" rating to a "hold" rating in a research note on Tuesday, January 14th. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $43.33.

Steven Madden Price Performance

Shares of Steven Madden stock traded down $0.41 during midday trading on Tuesday, hitting $37.19. The company had a trading volume of 945,378 shares, compared to its average volume of 679,147. The stock has a market cap of $2.68 billion, a PE ratio of 15.83 and a beta of 1.07. Steven Madden has a 1-year low of $36.88 and a 1-year high of $50.01. The business's 50 day simple moving average is $41.98 and its two-hundred day simple moving average is $44.07.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $0.02. The business had revenue of $624.68 million for the quarter, compared to the consensus estimate of $607.89 million. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The firm's revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the business earned $0.88 earnings per share. On average, sell-side analysts expect that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SHOO. Pacer Advisors Inc. acquired a new stake in shares of Steven Madden during the 4th quarter worth approximately $72,795,000. FMR LLC boosted its stake in Steven Madden by 8,180.4% in the third quarter. FMR LLC now owns 535,081 shares of the textile maker's stock valued at $26,214,000 after acquiring an additional 528,619 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Steven Madden during the 4th quarter worth $13,652,000. Weiss Asset Management LP bought a new stake in shares of Steven Madden during the 3rd quarter valued at $12,558,000. Finally, Barclays PLC lifted its stake in shares of Steven Madden by 286.9% in the 3rd quarter. Barclays PLC now owns 139,206 shares of the textile maker's stock valued at $6,819,000 after purchasing an additional 103,226 shares during the period. Institutional investors and hedge funds own 99.88% of the company's stock.

About Steven Madden

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.