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

Steven Madden (NASDAQ:SHOO) had its price target reduced by equities researchers at Telsey Advisory Group from $50.00 to $44.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “market perform” rating on the textile maker’s stock. Telsey Advisory Group’s target price would suggest a potential upside of 17.02% from the company’s current price.

SHOO has been the topic of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of Steven Madden in a research note on Thursday, December 5th. Citigroup raised their price objective on shares of Steven Madden from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, StockNews.com downgraded shares of Steven Madden from a “buy” rating to a “hold” rating in a report on Tuesday, January 14th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Steven Madden presently has a consensus rating of “Hold” and a consensus price target of $43.33.

Steven Madden Price Performance

NASDAQ:SHOO opened at $37.60 on Tuesday. The firm has a market capitalization of $2.71 billion, a price-to-earnings ratio of 16.00 and a beta of 1.07. The business has a fifty day moving average price of $42.29 and a 200-day moving average price of $44.17. Steven Madden has a one year low of $36.88 and a one year high of $50.01.

Steven Madden (NASDAQ:SHOO) last posted its quarterly earnings data on Thursday, November 7th. The textile maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.89 by $0.02. The firm 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 business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. On average, equities research analysts expect that Steven Madden will post 2.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Steven Madden by 1.2% in 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 in the last quarter. Algert Global LLC bought a new stake in Steven Madden in the 2nd quarter worth approximately $299,000. Creative Planning raised its holdings in shares of Steven Madden by 78.7% during the 2nd quarter. Creative Planning now owns 10,791 shares of the textile maker’s stock worth $456,000 after acquiring an additional 4,752 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Steven Madden by 80.6% in the third quarter. GAMMA Investing LLC now owns 1,329 shares of the textile maker’s stock valued at $65,000 after purchasing an additional 593 shares in the last quarter. Finally, Exchange Traded Concepts LLC bought a new stake in Steven Madden in the third quarter worth $59,000. Institutional investors own 99.88% of the company’s stock.

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.