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Steven Madden (NASDAQ:SHOO) was downgraded by research analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating in a report released on Tuesday, TheFlyOnTheWall.com reports.

Steven Madden (NASDAQ:SHOO) opened at 32.92 on Tuesday. Steven Madden has a one year low of $30.20 and a one year high of $39.48. The stock has a 50-day moving average of $33.57 and a 200-day moving average of $34.05. The company has a market cap of $2.148 billion and a price-to-earnings ratio of 16.54.

Steven Madden (NASDAQ:SHOO) last released its earnings data on Thursday, July 31st. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.01. The company had revenue of $295.70 million for the quarter, compared to the consensus estimate of $313.50 million. During the same quarter in the prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that Steven Madden will post $2.06 EPS for the current fiscal year.

SHOO has been the subject of a number of other recent research reports. Analysts at Wedbush cut their price target on shares of Steven Madden from $36.00 to $34.00 in a research note on Friday, August 1st. Separately, analysts at Telsey Advisory Group cut their price target on shares of Steven Madden from $39.00 to $37.00 in a research note on Friday, August 1st. They now have a “not rated” rating on the stock. Finally, analysts at Canaccord Genuity cut their price target on shares of Steven Madden from $43.00 to $41.00 in a research note on Friday, August 1st. They now have a “buy” rating on the stock. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $40.29.

In other Steven Madden news, major shareholder Steven Madden unloaded 100,000 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $32.55, for a total transaction of $3,255,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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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