BTIG Research Reaffirms “Buy” Rating for Steven Madden (NASDAQ:SHOO)

Steven Madden (NASDAQ:SHOO)‘s stock had its “buy” rating restated by investment analysts at BTIG Research in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $55.00 price objective on the textile maker’s stock. BTIG Research‘s price target suggests a potential upside of 28.70% from the company’s current price.

Several other equities research analysts have also weighed in on SHOO. Capital One Financial set a $60.00 target price on Steven Madden in a research report on Tuesday, September 8th. Citigroup reissued a “buy” rating and set a $55.00 price target (up from $45.00) on shares of Steven Madden in a report on Friday, July 31st. UBS Group reaffirmed a “neutral” rating and issued a $45.00 price objective (up from $40.00) on shares of Steven Madden in a report on Friday, July 31st. BMO Capital Markets initiated coverage on shares of Steven Madden in a research report on Tuesday, September 8th. They issued an “outperform” rating and a $60.00 price objective on the stock. Finally, Wall Street Zen upgraded shares of Steven Madden from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.30.

Steven Madden Stock Down 0.1%

Shares of SHOO stock opened at $42.74 on Tuesday. The company has a market cap of $3.13 billion, a P/E ratio of 21.48 and a beta of 1.17. The business has a 50 day moving average of $44.15 and a two-hundred day moving average of $41.48. Steven Madden has a 52 week low of $31.33 and a 52 week high of $49.70.

Steven Madden (NASDAQ:SHOO) last announced its quarterly earnings results on Thursday, July 30th. The textile maker reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.11. The company had revenue of $665.87 million during the quarter, compared to the consensus estimate of $635.39 million. During the same period last year, the business posted $0.20 EPS. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. Steven Madden has set its FY 2026 guidance at 2.050-2.150 EPS. Analysts expect that Steven Madden will post 2.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mitchell Klipper sold 3,918 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $48.54, for a total value of $190,179.72. Following the completion of the transaction, the director owned 32,555 shares of the company’s stock, valued at approximately $1,580,219.70. This represents a 10.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Al Ferrara sold 3,918 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $48.26, for a total value of $189,082.68. Following the transaction, the director directly owned 26,197 shares in the company, valued at $1,264,267.22. This trade represents a 13.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 9,086 shares of company stock worth $440,212. 2.21% of the stock is owned by company insiders.

Hedge Funds Weigh In On Steven Madden

A number of institutional investors and hedge funds have recently bought and sold shares of SHOO. Integrated Wealth Concepts LLC bought a new stake in shares of Steven Madden during the 2nd quarter worth about $32,000. Signature Resources Capital Management LLC acquired a new stake in shares of Steven Madden in the 1st quarter worth approximately $49,000. Reyes Financial Architecture Inc. bought a new position in shares of Steven Madden in the third quarter valued at approximately $86,000. Public Employees Retirement System of Ohio bought a new position in shares of Steven Madden in the second quarter valued at approximately $95,000. Finally, Nykredit A S acquired a new position in shares of Steven Madden during the second quarter valued at approximately $128,000. Institutional investors own 99.88% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. is a fashion company that designs, sources, markets and sells footwear, handbags, accessories and apparel. Its products are offered under the Steve Madden brand and a portfolio of owned, licensed and distributed brands, including Dolce Vita, Betsey Johnson, Blondo, Mad Love and Greats.

The company sells its products through wholesale channels, including department stores, specialty retailers and online retailers, as well as through its own retail stores and e-commerce websites.