Steven Madden (NASDAQ:SHOO) Given New $26.00 Price Target at UBS Group

Key Points

• UBS Group has increased the price target for Steven Madden from $23.00 to $26.00, maintaining a "neutral" rating, suggesting a potential downside of 3.70% from the previous close.
• Analyst ratings for Steven Madden vary, with a consensus rating of "Hold" and an average price target of $30.50, while Citigroup upgraded the stock to "Buy" with a target of $32.00.
• In its latest quarterly report, Steven Madden beat earnings expectations with an EPS of $0.60, although revenue was slightly below estimates at $551.38 million.

Steven Madden (NASDAQ:SHOO - Get Free Report) had its target price increased by analysts at UBS Group from $23.00 to $26.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the textile maker's stock. UBS Group's target price would indicate a potential downside of 3.70% from the company's previous close.

SHOO has been the topic of a number of other reports. Piper Sandler lowered their price target on shares of Steven Madden from $35.00 to $25.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Telsey Advisory Group restated a "market perform" rating and issued a $24.00 price target on shares of Steven Madden in a report on Wednesday, July 23rd. Needham & Company LLC restated a "hold" rating on shares of Steven Madden in a report on Friday, May 2nd. Finally, Citigroup upgraded shares of Steven Madden from a "neutral" rating to a "buy" rating and raised their price target for the company from $26.00 to $32.00 in a report on Thursday, July 17th. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $30.50.

Steven Madden Stock Performance

Steven Madden stock traded up $0.13 during midday trading on Monday, hitting $27.00. 1,445,744 shares of the company's stock were exchanged, compared to its average volume of 1,525,614. Steven Madden has a 12 month low of $19.05 and a 12 month high of $50.01. The firm has a 50-day moving average of $25.03 and a two-hundred day moving average of $28.24. The company has a market cap of $1.96 billion, a PE ratio of 11.64 and a beta of 1.10.

Steven Madden (NASDAQ:SHOO - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The textile maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.46 by $0.14. Steven Madden had a net margin of 7.26% and a return on equity of 21.63%. The business had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. During the same period in the prior year, the firm posted $0.65 earnings per share. The company's quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts expect that Steven Madden will post 2.66 earnings per share for the current year.

Institutional Trading of Steven Madden

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Steven Madden by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 8,316,124 shares of the textile maker's stock valued at $221,542,000 after purchasing an additional 218,785 shares during the period. Wellington Management Group LLP lifted its stake in shares of Steven Madden by 1.8% in the 1st quarter. Wellington Management Group LLP now owns 4,802,603 shares of the textile maker's stock valued at $127,941,000 after purchasing an additional 84,570 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Steven Madden by 4.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,452,407 shares of the textile maker's stock valued at $65,333,000 after purchasing an additional 106,028 shares during the period. First Trust Advisors LP lifted its stake in shares of Steven Madden by 36.9% in the 4th quarter. First Trust Advisors LP now owns 2,002,228 shares of the textile maker's stock valued at $85,135,000 after purchasing an additional 539,738 shares during the period. Finally, Invesco Ltd. lifted its stake in shares of Steven Madden by 8.6% in the 4th quarter. Invesco Ltd. now owns 1,745,456 shares of the textile maker's stock valued at $74,217,000 after purchasing an additional 138,065 shares during the period. 99.88% of the stock is owned by hedge funds and other 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.

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