Steven Madden (NASDAQ:SHOO) Receives Market Perform Rating from Telsey Advisory Group

Steven Madden (NASDAQ:SHOO)‘s stock had its “market perform” rating reiterated by equities research analysts at Telsey Advisory Group in a research report issued on Friday, Benzinga reports. They currently have a $44.00 price objective on the textile maker’s stock. Telsey Advisory Group’s price objective indicates a potential upside of 10.78% from the company’s previous close.

A number of other research firms also recently issued reports on SHOO. Jefferies Financial Group restated a “hold” rating and issued a $40.00 target price on shares of Steven Madden in a report on Thursday, January 4th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note on Thursday, February 29th. Piper Sandler started coverage on shares of Steven Madden in a research note on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective for the company. Wedbush boosted their price objective on shares of Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, Williams Trading reiterated a “hold” rating and set a $44.00 price objective on shares of Steven Madden in a research note on Wednesday, February 21st. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Steven Madden presently has an average rating of “Hold” and an average target price of $41.38.

Steven Madden Trading Down 1.8 %

Shares of NASDAQ:SHOO opened at $39.72 on Friday. Steven Madden has a 12-month low of $29.92 and a 12-month high of $45.63. The stock’s 50-day moving average price is $41.57 and its two-hundred day moving average price is $39.68. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 17.27 and a beta of 1.16.

Steven Madden (NASDAQ:SHOO) last released its earnings results on Wednesday, February 28th. The textile maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Steven Madden had a net margin of 8.67% and a return on equity of 21.61%. The firm had revenue of $519.71 million during the quarter, compared to the consensus estimate of $511.96 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Steven Madden’s revenue was up 10.4% compared to the same quarter last year. As a group, research analysts forecast that Steven Madden will post 2.61 earnings per share for the current fiscal year.

Insider Activity at Steven Madden

In other Steven Madden news, Director Peter Allan Davis sold 1,200 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now owns 5,751 shares in the company, valued at $242,289.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Peter Allan Davis sold 1,200 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total transaction of $50,556.00. Following the sale, the director now directly owns 5,751 shares in the company, valued at approximately $242,289.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Edward R. Rosenfeld sold 48,500 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $41.49, for a total value of $2,012,265.00. Following the sale, the chief executive officer now owns 697,038 shares in the company, valued at $28,920,106.62. The disclosure for this sale can be found here. Insiders sold a total of 59,346 shares of company stock valued at $2,464,841 over the last three months. 2.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SHOO. SG Americas Securities LLC bought a new position in Steven Madden in the 3rd quarter worth approximately $925,000. Strs Ohio boosted its stake in Steven Madden by 3.3% during the 3rd quarter. Strs Ohio now owns 31,100 shares of the textile maker’s stock valued at $988,000 after purchasing an additional 1,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Steven Madden by 1.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 34,365 shares of the textile maker’s stock valued at $1,092,000 after purchasing an additional 482 shares in the last quarter. Advisor Partners II LLC bought a new position in Steven Madden during the 3rd quarter valued at $262,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Steven Madden by 9.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,209,651 shares of the textile maker’s stock valued at $38,431,000 after purchasing an additional 108,359 shares in the last quarter. 99.88% of the stock is owned by 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.