Telsey Advisory Group Lowers Steven Madden (NASDAQ:SHOO) Price Target to $44.00

Steven Madden (NASDAQ:SHOO) had its price objective decreased by Telsey Advisory Group from $50.00 to $44.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “market perform” rating on the textile maker’s stock. Telsey Advisory Group’s price target would indicate a potential upside of 14.82% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Needham & Company LLC reissued a “hold” rating on shares of Steven Madden in a research report on Thursday, December 5th. Citigroup boosted their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, StockNews.com downgraded Steven Madden from a “buy” rating to a “hold” rating in a research note on Tuesday, January 14th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $45.33.

Steven Madden Price Performance

NASDAQ:SHOO opened at $38.32 on Tuesday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 16.31 and a beta of 1.07. The business has a 50 day simple moving average of $42.57 and a 200-day simple moving average of $44.26. Steven Madden has a 1 year low of $37.99 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO) last issued its quarterly earnings results on Thursday, November 7th. The textile maker reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.02. Steven Madden had a return on equity of 23.41% and a net margin of 7.68%. The company had revenue of $624.68 million during the quarter, compared to the consensus estimate of $607.89 million. During the same period last year, the company earned $0.88 earnings per share. Steven Madden’s revenue was up 13.0% on a year-over-year basis. As a group, analysts expect that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Institutional Trading of Steven Madden

Institutional investors and hedge funds have recently bought and sold shares of the business. Central Pacific Bank Trust Division raised its stake in shares of Steven Madden by 7.4% in the fourth quarter. Central Pacific Bank Trust Division now owns 4,202 shares of the textile maker’s stock valued at $179,000 after acquiring an additional 290 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Steven Madden by 20.9% in the 4th quarter. Blue Trust Inc. now owns 1,958 shares of the textile maker’s stock valued at $83,000 after buying an additional 339 shares during the period. Louisiana State Employees Retirement System grew its position in shares of Steven Madden by 1.2% during the third quarter. Louisiana State Employees Retirement System now owns 35,100 shares of the textile maker’s stock worth $1,720,000 after buying an additional 400 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Steven Madden by 1.2% during the second quarter. The Manufacturers Life Insurance Company now owns 40,141 shares of the textile maker’s stock worth $1,698,000 after buying an additional 484 shares during the period. Finally, KBC Group NV raised its holdings in Steven Madden by 34.1% in the third quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after acquiring an additional 561 shares in the last quarter. 99.88% of the stock is currently owned by hedge funds and other institutional investors.

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.