BTIG Research Issues Positive Forecast for Steven Madden (NASDAQ:SHOO) Stock Price

Key Points

• BTIG Research has raised its price target for Steven Madden (NASDAQ:SHOO) stock from $34.00 to $40.00, indicating a potential upside of 17.13%.
• The company reported $0.20 EPS for the last quarter, missing consensus estimates, while revenue grew 6.8% year-over-year to $556.09 million.
• Currently, three analysts rate the stock as a Buy, and six as a Hold, with a consensus average target price of $33.17.

Steven Madden (NASDAQ:SHOO - Get Free Report) had its price objective raised by equities researchers at BTIG Research from $34.00 to $40.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the textile maker's stock. BTIG Research's price objective points to a potential upside of 17.13% from the company's previous close.

A number of other research firms have also weighed in on SHOO. Needham & Company LLC reissued a "hold" rating on shares of Steven Madden in a research report on Wednesday, July 30th. Piper Sandler raised shares of Steven Madden from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $25.00 to $40.00 in a research report on Monday, September 22nd. Telsey Advisory Group reissued a "market perform" rating and issued a $26.00 price objective (up previously from $24.00) on shares of Steven Madden in a research report on Wednesday, July 30th. Wall Street Zen lowered shares of Steven Madden from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Steven Madden in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $33.17.

Steven Madden Stock Up 2.8%

Shares of NASDAQ SHOO opened at $34.15 on Thursday. Steven Madden has a 12-month low of $19.05 and a 12-month high of $49.12. The company has a market capitalization of $2.48 billion, a PE ratio of 26.89 and a beta of 1.22. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.01 and a quick ratio of 1.13. The firm's 50-day moving average is $29.71 and its two-hundred day moving average is $26.07.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The textile maker reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.04). Steven Madden had a net margin of 3.92% and a return on equity of 18.32%. The business had revenue of $556.09 million during the quarter, compared to analysts' expectations of $575.83 million. During the same period last year, the company earned $0.57 EPS. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts anticipate that Steven Madden will post 2.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Steven Madden

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its position in shares of Steven Madden by 86.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,045 shares of the textile maker's stock worth $25,000 after acquiring an additional 485 shares in the last quarter. CX Institutional acquired a new stake in shares of Steven Madden in the first quarter worth $32,000. Caitong International Asset Management Co. Ltd increased its position in shares of Steven Madden by 328.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 2,161 shares of the textile maker's stock worth $58,000 after acquiring an additional 1,657 shares in the last quarter. Signaturefd LLC increased its position in shares of Steven Madden by 475.5% in the second quarter. Signaturefd LLC now owns 2,492 shares of the textile maker's stock worth $60,000 after acquiring an additional 2,059 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Steven Madden by 231.0% in the first quarter. CWM LLC now owns 2,277 shares of the textile maker's stock valued at $61,000 after purchasing an additional 1,589 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.

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