Telsey Advisory Group Reaffirms Market Perform Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “market perform” rating reissued by stock analysts at Telsey Advisory Group in a research note issued on Thursday, Benzinga reports. They presently have a $50.00 price target on the textile maker’s stock. Telsey Advisory Group’s price objective would suggest a potential upside of 12.76% from the stock’s previous close.

A number of other research analysts also recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $41.00 target price on shares of Steven Madden in a research report on Wednesday, August 7th. StockNews.com upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Piper Sandler reiterated a “neutral” rating and set a $45.00 target price on shares of Steven Madden in a research report on Friday, August 23rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $45.14.

Steven Madden Stock Performance

Shares of NASDAQ SHOO opened at $44.34 on Thursday. The company has a market capitalization of $3.22 billion, a P/E ratio of 17.92 and a beta of 1.08. Steven Madden has a 52-week low of $32.65 and a 52-week high of $50.01. The company’s 50 day moving average price is $46.40 and its 200-day moving average price is $44.12.

Institutional Trading of Steven Madden

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gladius Capital Management LP bought a new stake in Steven Madden during the 3rd quarter valued at $36,000. Natixis Advisors LLC increased its stake in Steven Madden by 2.9% during the 3rd quarter. Natixis Advisors LLC now owns 40,735 shares of the textile maker’s stock valued at $1,996,000 after purchasing an additional 1,155 shares in the last quarter. KBC Group NV increased its stake in Steven Madden by 34.1% during the 3rd quarter. KBC Group NV now owns 2,208 shares of the textile maker’s stock valued at $108,000 after purchasing an additional 561 shares in the last quarter. Covestor Ltd grew its stake in shares of Steven Madden by 37.1% in the 3rd quarter. Covestor Ltd now owns 4,000 shares of the textile maker’s stock worth $196,000 after acquiring an additional 1,083 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Steven Madden by 149.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 122,005 shares of the textile maker’s stock worth $5,977,000 after acquiring an additional 73,165 shares in the last quarter. Institutional investors own 99.88% of the company’s stock.

About Steven Madden

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.