Telsey Advisory Group reissued their outperform rating on shares of Steven Madden, Ltd. (NASDAQ:SHOO) in a research report released on Tuesday morning. Telsey Advisory Group currently has a $45.00 price target on the textile maker’s stock, up from their previous price target of $41.00.

SHOO has been the subject of a number of other research reports. BidaskClub raised Steven Madden from a hold rating to a buy rating in a research report on Wednesday, July 5th. Zacks Investment Research raised Steven Madden from a hold rating to a buy rating and set a $44.00 target price for the company in a research report on Tuesday, June 27th. Piper Jaffray Companies set a $41.00 target price on Steven Madden and gave the stock a buy rating in a research report on Wednesday, May 31st. Citigroup Inc. upped their target price on Steven Madden from $44.00 to $45.00 and gave the stock a buy rating in a research report on Tuesday, April 25th. Finally, Morgan Stanley upped their target price on Steven Madden from $37.00 to $38.00 and gave the stock an equal weight rating in a research report on Tuesday, June 6th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $43.32.

Steven Madden (NASDAQ SHOO) traded up 1.30% during mid-day trading on Tuesday, hitting $43.00. 495,723 shares of the stock were exchanged. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 20.70 and a beta of 0.53. Steven Madden has a 52 week low of $32.30 and a 52 week high of $43.15. The company has a 50 day moving average price of $40.21 and a 200 day moving average price of $38.12.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Tuesday, August 1st. The textile maker reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The firm had revenue of $374.15 million during the quarter, compared to analysts’ expectations of $355.22 million. Steven Madden had a return on equity of 17.57% and a net margin of 8.19%. The company’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. Analysts expect that Steven Madden will post $2.25 EPS for the current fiscal year.

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In related news, Director Rose Peabody Lynch sold 2,240 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $39.32, for a total value of $88,076.80. Following the completion of the transaction, the director now directly owns 4,754 shares in the company, valued at $186,927.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karla Frieders sold 5,000 shares of the company’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $38.61, for a total value of $193,050.00. Following the completion of the transaction, the insider now owns 83,216 shares of the company’s stock, valued at $3,212,969.76. The disclosure for this sale can be found here. Insiders sold 122,740 shares of company stock valued at $4,832,677 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Riverhead Capital Management LLC raised its position in shares of Steven Madden by 97.1% in the second quarter. Riverhead Capital Management LLC now owns 2,562 shares of the textile maker’s stock worth $102,000 after buying an additional 1,262 shares during the last quarter. Elkfork Partners LLC raised its position in shares of Steven Madden by 17.5% in the first quarter. Elkfork Partners LLC now owns 2,662 shares of the textile maker’s stock worth $103,000 after buying an additional 396 shares during the last quarter. TrimTabs Asset Management LLC raised its position in shares of Steven Madden by 89.1% in the first quarter. TrimTabs Asset Management LLC now owns 3,023 shares of the textile maker’s stock worth $117,000 after buying an additional 1,424 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Steven Madden during the second quarter worth approximately $127,000. Finally, Meadow Creek Investment Management LLC raised its position in shares of Steven Madden by 17.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,388 shares of the textile maker’s stock worth $131,000 after buying an additional 504 shares during the last quarter. Institutional investors and hedge funds own 91.16% of the company’s stock.

Steven Madden Company Profile

Steven Madden, Ltd. and its subsidiaries design, source, market and sell name brand and private label footwear for women, men and children, and name brand and private label fashion handbags and accessories. The Company operates through five segments: Wholesale Footwear, Wholesale Accessories, Retail, First Cost and Licensing.

Analyst Recommendations for Steven Madden (NASDAQ:SHOO)

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