Telsey Advisory Group Reaffirms Market Perform Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “market perform” rating reaffirmed by equities research analysts at Telsey Advisory Group in a report released on Thursday, Benzinga reports. They currently have a $50.00 target price on the textile maker’s stock. Telsey Advisory Group’s target price suggests a potential upside of 12.76% from the company’s previous close.

SHOO has been the topic of several other reports. Piper Sandler reaffirmed a “neutral” rating and set a $45.00 price target on shares of Steven Madden in a report on Friday, August 23rd. StockNews.com raised shares of Steven Madden from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Finally, Wedbush reaffirmed a “neutral” rating and set a $41.00 price target on shares of Steven Madden in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.14.

Steven Madden Stock Up 0.2 %

SHOO stock opened at $44.34 on Thursday. Steven Madden has a 12 month low of $32.65 and a 12 month high of $50.01. The firm has a market cap of $3.22 billion, a P/E ratio of 17.92 and a beta of 1.08. The company’s 50-day moving average price is $46.40 and its two-hundred day moving average price is $44.12.

Institutional Investors Weigh In On Steven Madden

A number of institutional investors have recently added to or reduced their stakes in the business. Gladius Capital Management LP bought a new stake in Steven Madden during the 3rd quarter worth approximately $36,000. Natixis Advisors LLC lifted its position in shares of Steven Madden by 2.9% in the 3rd quarter. Natixis Advisors LLC now owns 40,735 shares of the textile maker’s stock worth $1,996,000 after purchasing an additional 1,155 shares during the period. KBC Group NV lifted its position in shares of Steven Madden by 34.1% in the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock worth $108,000 after purchasing an additional 561 shares during the period. Covestor Ltd lifted its position in shares of Steven Madden by 37.1% in the 3rd quarter. Covestor Ltd now owns 4,000 shares of the textile maker’s stock worth $196,000 after purchasing an additional 1,083 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Steven Madden by 149.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker’s stock worth $5,977,000 after purchasing an additional 73,165 shares during the period. 99.88% of the stock is owned by institutional investors.

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.