Steven Madden's (SHOO) Buy Rating Reiterated at BTIG Research

Key Points

• BTIG Research reiterated a Buy rating on Steven Madden with a $50 price target, implying roughly a 35.24% upside from the prior close.
• Analysts are split—five Buy, three Hold and one Sell—resulting in a MarketBeat consensus of Hold and an average price target of $43.75.
• Most recent results showed an EPS beat ($0.48 vs. $0.46) but a slight revenue miss ($753.7M), while the stock trades near $36.97 with a relatively high valuation (PE ≈ 59.6).

Steven Madden (NASDAQ:SHOO - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at BTIG Research in a research note issued to investors on Thursday,Benzinga reports. They currently have a $50.00 price target on the textile maker's stock. BTIG Research's price target would suggest a potential upside of 35.24% from the company's previous close.

SHOO has been the topic of a number of other research reports. Williams Trading set a $48.00 target price on shares of Steven Madden in a research report on Tuesday, March 10th. Weiss Ratings reiterated a "hold (c)" rating on shares of Steven Madden in a research report on Tuesday, April 21st. Jefferies Financial Group downgraded shares of Steven Madden from a "hold" rating to an "underperform" rating and set a $30.00 price objective for the company. in a research note on Thursday, February 5th. Telsey Advisory Group reissued an "outperform" rating and issued a $50.00 price objective on shares of Steven Madden in a research note on Thursday, February 26th. Finally, Needham & Company LLC dropped their price objective on shares of Steven Madden from $50.00 to $41.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $43.75.

Steven Madden Stock Performance

Shares of NASDAQ:SHOO opened at $36.97 on Thursday. The company's 50 day moving average price is $35.74 and its two-hundred day moving average price is $38.86. Steven Madden has a 12-month low of $19.75 and a 12-month high of $46.88. The firm has a market cap of $2.70 billion, a PE ratio of 59.63 and a beta of 1.13. The company has a quick ratio of 1.11, a current ratio of 1.90 and a debt-to-equity ratio of 0.26.

Steven Madden (NASDAQ:SHOO - Get Free Report) last announced its earnings results on Wednesday, February 25th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.46 by $0.02. Steven Madden had a net margin of 1.76% and a return on equity of 13.60%. The firm had revenue of $753.70 million for the quarter, compared to analyst estimates of $758.53 million. During the same quarter in the prior year, the business posted $0.55 EPS. The business's revenue was up 29.6% compared to the same quarter last year. Equities research analysts predict that Steven Madden will post 2.09 earnings per share for the current year.

Insider Buying and Selling

In other Steven Madden news, Director Arian Simone Reed sold 3,600 shares of the firm's stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $33.44, for a total value of $120,384.00. Following the completion of the sale, the director directly owned 8,705 shares in the company, valued at approximately $291,095.20. This trade represents a 29.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.21% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its holdings in shares of Steven Madden by 13.9% during the third quarter. Public Employees Retirement System of Ohio now owns 2,324 shares of the textile maker's stock valued at $78,000 after buying an additional 283 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Steven Madden by 1.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 16,640 shares of the textile maker's stock valued at $693,000 after buying an additional 300 shares during the last quarter. First Horizon Corp grew its holdings in shares of Steven Madden by 55.1% during the fourth quarter. First Horizon Corp now owns 892 shares of the textile maker's stock valued at $37,000 after buying an additional 317 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Steven Madden by 2.4% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 13,738 shares of the textile maker's stock valued at $572,000 after buying an additional 321 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in shares of Steven Madden by 0.7% during the second quarter. Thrivent Financial for Lutherans now owns 53,404 shares of the textile maker's stock valued at $1,281,000 after buying an additional 378 shares during the last quarter. 99.88% of the stock is currently owned by institutional investors and hedge funds.

About Steven Madden

Steven Madden, Inc NASDAQ: SHOO is a New York–based designer and marketer of fashion footwear, handbags and accessories. The company's product portfolio spans a range of contemporary and lifestyle brands for women, men and children, including its core Steve Madden label as well as the Madden Girl and Dolce Vita brands. In addition to footwear, the company licenses its trademarks for use on apparel, eyewear and other fashion accessories.

Steven Madden distributes its products through multiple channels, including wholesale partners, e-commerce platforms and its own brick-and-mortar retail stores.

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