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

Steven Madden (NASDAQ:SHOO)‘s stock had its “market perform” rating reissued by equities researchers 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 target price suggests a potential upside of 10.78% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Williams Trading reiterated a “hold” rating and issued a $44.00 price target on shares of Steven Madden in a report on Wednesday, February 21st. Jefferies Financial Group reiterated a “hold” rating and issued a $40.00 price target on shares of Steven Madden in a report on Thursday, January 4th. Citigroup increased their price target on Steven Madden from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Wedbush increased their price target on Steven Madden from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Finally, Piper Sandler began coverage on Steven Madden in a report on Wednesday, February 14th. They set a “neutral” rating and a $45.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $41.38.

Steven Madden Price Performance

NASDAQ:SHOO opened at $39.72 on Friday. The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of 17.27 and a beta of 1.16. Steven Madden has a 1 year low of $29.92 and a 1 year high of $45.63. The business has a 50 day simple moving average of $41.57 and a 200-day simple moving average of $39.68.

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

Insider Activity

In other news, Director Peter Allan Davis sold 1,200 shares of Steven Madden stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the transaction, the director now directly owns 5,751 shares in the company, valued at approximately $242,289.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Zine Mazouzi sold 7,246 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $41.66, for a total value of $301,868.36. Following the completion of the sale, the chief financial officer now owns 68,785 shares of the company’s stock, valued at approximately $2,865,583.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter Allan Davis sold 1,200 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.13, for a total value of $50,556.00. Following the completion of the sale, the director now directly owns 5,751 shares of the company’s stock, valued at approximately $242,289.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,346 shares of company stock worth $2,464,841. 2.01% of the stock is currently owned by company insiders.

Institutional Trading of Steven Madden

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Steven Madden by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,329,605 shares of the textile maker’s stock worth $264,632,000 after acquiring an additional 80,199 shares during the period. Wellington Management Group LLP lifted its position in Steven Madden by 5.3% during the 3rd quarter. Wellington Management Group LLP now owns 6,264,768 shares of the textile maker’s stock worth $199,032,000 after acquiring an additional 316,676 shares during the period. Pacer Advisors Inc. lifted its position in Steven Madden by 30.7% during the 4th quarter. Pacer Advisors Inc. now owns 1,469,956 shares of the textile maker’s stock worth $61,738,000 after acquiring an additional 345,558 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Steven Madden by 10.3% in the 4th quarter. Victory Capital Management Inc. now owns 1,455,980 shares of the textile maker’s stock valued at $61,151,000 after buying an additional 136,171 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Steven Madden by 9.8% in 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 buying an additional 108,359 shares during the period. Institutional investors and hedge funds 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.