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

Steven Madden (NASDAQ:SHOO)‘s stock had its “market perform” rating reiterated by investment analysts at Telsey Advisory Group in a note issued to investors on Thursday, June 6th, Stock Target Advisor reports. They currently have a $36.00 price objective on the textile maker’s stock, down from their prior price objective of $38.00. Telsey Advisory Group’s price target suggests a potential upside of 6.04% from the stock’s previous close.

Several other equities research analysts have also issued reports on SHOO. Zacks Investment Research raised shares of Steven Madden from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Friday, February 15th. Loop Capital increased their price objective on shares of Steven Madden to $38.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. B. Riley reiterated a “buy” rating and set a $38.00 price objective on shares of Steven Madden in a research note on Monday, February 25th. BidaskClub downgraded shares of Steven Madden from a “hold” rating to a “sell” rating in a research note on Wednesday, March 6th. Finally, Piper Jaffray Companies set a $38.00 price target on shares of Steven Madden and gave the stock a “buy” rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $35.23.

Shares of SHOO traded up $0.58 on Thursday, hitting $33.95. 952,522 shares of the stock traded hands, compared to its average volume of 598,524. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 18.55, a P/E/G ratio of 2.02 and a beta of 0.77. Steven Madden has a 1 year low of $27.88 and a 1 year high of $39.30. The firm has a 50 day moving average price of $31.82.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings results on Thursday, April 25th. The textile maker reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.05. Steven Madden had a net margin of 8.06% and a return on equity of 19.36%. The company had revenue of $410.90 million for the quarter, compared to the consensus estimate of $404.31 million. During the same quarter last year, the firm posted $0.54 earnings per share. Steven Madden’s revenue was up 5.6% on a year-over-year basis. Equities research analysts expect that Steven Madden will post 1.84 earnings per share for the current year.

In other Steven Madden news, Director Robert Garrett Smith sold 9,267 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $31.00, for a total transaction of $287,277.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Paradise sold 2,000 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $35.99, for a total transaction of $71,980.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,417 shares of company stock worth $567,204. 1.96% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. Punch & Associates Investment Management Inc. lifted its position in Steven Madden by 2.2% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 173,725 shares of the textile maker’s stock valued at $5,879,000 after purchasing an additional 3,664 shares during the period. Lazard Asset Management LLC lifted its position in Steven Madden by 16.4% during the 1st quarter. Lazard Asset Management LLC now owns 1,301,929 shares of the textile maker’s stock valued at $44,057,000 after purchasing an additional 183,630 shares during the period. OppenheimerFunds Inc. lifted its position in Steven Madden by 5.7% during the 1st quarter. OppenheimerFunds Inc. now owns 29,817 shares of the textile maker’s stock valued at $1,009,000 after purchasing an additional 1,610 shares during the period. State of Wisconsin Investment Board lifted its position in Steven Madden by 37.3% during the 1st quarter. State of Wisconsin Investment Board now owns 459,800 shares of the textile maker’s stock valued at $15,560,000 after purchasing an additional 124,800 shares during the period. Finally, AlphaCrest Capital Management LLC acquired a new position in Steven Madden during the 1st quarter valued at about $640,000. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Steven Madden Company Profile

Steven Madden, Ltd. designs, sources, markets, and sells fashion-forward name brand and private label footwear for women, men, and children worldwide. Its Wholesale Footwear segment provides footwear under the Steve Madden Women's, Madden Girl, Steve Madden Men's, Madden, Madden NYC, Report, Dolce Vita, DV by Dolce Vita, Mad Love, Steven by Steve Madden, Superga, Betsey Johnson, Betseyville, Steve Madden Kids, Stevies, Brian Atwood, Blondo, Kate Spade, and Anne Klein brands, as well as private label footwear.

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Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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