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Steven Madden (NASDAQ:SHOO) was downgraded by equities research analysts at Ned Davis Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, Analyst Ratings Net reports.

A number of other firms have also recently commented on SHOO. Analysts at BB&T Corp. upgraded shares of Steven Madden from a “hold” rating to a “buy” rating in a research note to investors on Tuesday. Separately, analysts at B. Riley reiterated a “buy” rating on shares of Steven Madden in a research note to investors on Monday, January 13th. They now have a $43.00 price target on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Steven Madden from $41.00 to $38.00 in a research note to investors on Monday, January 13th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Steven Madden has an average rating of “Hold” and an average target price of $47.11.

Shares of Steven Madden (NASDAQ:SHOO) traded up 1.00% during mid-day trading on Tuesday, hitting $33.49. 286,958 shares of the company’s stock traded hands. Steven Madden has a 1-year low of $27.3333 and a 1-year high of $39.48. The stock has a 50-day moving average of $35.77 and a 200-day moving average of $35.77. The company has a market cap of $2.270 billion and a price-to-earnings ratio of 17.13.

Steven Madden (NASDAQ:SHOO) last announced its earnings results on Thursday, October 31st. The company reported $0.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.66. The company had revenue of $394.00 million for the quarter, compared to the consensus estimate of $384.50 million. During the same quarter last year, the company posted $0.95 earnings per share. Steven Madden’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Steven Madden will post $1.98 earnings per share for the current fiscal year.

Steven Madden, Ltd. designs, sources, markets and sells name brand and private label footwear for women, men and children and name brand and private label fashion handbags and accessories.

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