Steven Madden (NASDAQ:SHOO) Given New $50.00 Price Target at Telsey Advisory Group

Key Points

• Telsey Advisory Group lowered its price target on Steven Madden to $50 from $55, while maintaining an “outperform” rating; the new target implies about 26.6% upside from the stock’s current price.
• Analyst sentiment remains broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $51.70, though other firms have also cut targets.
• Steven Madden beat quarterly earnings expectations, reporting EPS of $0.79 versus $0.73 forecast. Revenue rose 15% year over year to $772.61 million, slightly below consensus.

Steven Madden (NASDAQ:SHOO - Get Free Report) had its price objective dropped by investment analysts at Telsey Advisory Group from $55.00 to $50.00 in a report released on Friday, Benzinga reports. The firm currently has an "outperform" rating on the textile maker's stock. Telsey Advisory Group's target price suggests a potential upside of 26.58% from the stock's current price.

SHOO has been the topic of several other research reports. Citigroup reiterated a "buy" rating and issued a $55.00 target price (up from $45.00) on shares of Steven Madden in a report on Friday, July 31st. Weiss Ratings downgraded Steven Madden from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, October 30th. BTIG Research reiterated a "buy" rating and issued a $55.00 price objective on shares of Steven Madden in a research note on Tuesday, October 27th. Needham & Company LLC dropped their price objective on Steven Madden from $52.00 to $45.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Wall Street Zen raised Steven Madden from a "buy" rating to a "strong-buy" rating in a research report on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $51.70.

Steven Madden Price Performance

SHOO opened at $39.50 on Friday. The firm has a market cap of $2.89 billion, a P/E ratio of 16.32 and a beta of 1.14. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.12 and a current ratio of 1.86. The business has a 50 day moving average price of $43.69 and a 200 day moving average price of $41.38. Steven Madden has a twelve month low of $31.33 and a twelve month high of $49.70.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The textile maker reported $0.79 EPS for the quarter, beating the consensus estimate of $0.73 by $0.06. Steven Madden had a return on equity of 16.19% and a net margin of 6.16%. The company had revenue of $772.61 million for the quarter, compared to the consensus estimate of $774.35 million. During the same quarter last year, the company posted $0.43 earnings per share. The company's revenue for the quarter was up 15.0% compared to the same quarter last year. Research analysts forecast that Steven Madden will post 2.20 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SHOO. Integrated Wealth Concepts LLC acquired a new stake in Steven Madden during the second quarter worth $32,000. Reyes Financial Architecture Inc. acquired a new position in shares of Steven Madden in the 3rd quarter valued at $86,000. Public Employees Retirement System of Ohio acquired a new position in shares of Steven Madden in the 2nd quarter valued at $95,000. Nykredit A S bought a new position in shares of Steven Madden during the 2nd quarter worth about $128,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Steven Madden by 17.0% during the 3rd quarter. Versant Capital Management Inc now owns 3,543 shares of the textile maker's stock worth $159,000 after acquiring an additional 516 shares during the period. Institutional investors own 99.88% of the company's stock.

About Steven Madden

Steven Madden, Ltd. designs, sources and markets footwear, handbags, apparel and other fashion accessories. Its portfolio includes the Steve Madden brand as well as brands such as Dolce Vita and Betsey Johnson.

The company sells through wholesale customers and its own retail and e-commerce channels, and also licenses its brands to third parties. Its business serves customers in the United States and international markets.

Founded by Steve Madden in 1990, the company is headquartered in Long Island City, New York.

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