Shoe Carnival, Inc. (NASDAQ:SCVL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $25.00 price objective on the stock. Zacks Investment Research‘s target price indicates a potential upside of 13.58% from the stock’s previous close.
According to Zacks, “Shoe Carnival, Inc. is a high volume, value-oriented retailer of family footwear. They adhere to a highly promotional marketing concept that enables them to be competitive in the retail markets they enter. They provide a selection and variety of footwear normally associated with a category killer superstore in an exciting retail environment. “
Several other research firms also recently commented on SCVL. Jefferies Group LLC reissued a “hold” rating and set a $20.00 target price (down from $21.00) on shares of Shoe Carnival in a research report on Thursday, August 31st. Sidoti raised shares of Shoe Carnival from a “neutral” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Wednesday, June 28th. Susquehanna Bancshares Inc raised shares of Shoe Carnival from a “neutral” rating to a “positive” rating and upped their price objective for the stock from $19.00 to $23.00 in a research report on Wednesday, September 20th. UBS AG raised shares of Shoe Carnival from a “neutral” rating to a “positive” rating in a research report on Wednesday, September 20th. Finally, BidaskClub downgraded shares of Shoe Carnival from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Shoe Carnival has an average rating of “Hold” and an average target price of $22.57.
Shoe Carnival (SCVL) opened at 22.01 on Tuesday. Shoe Carnival has a one year low of $15.08 and a one year high of $31.79. The company has a market cap of $374.59 million, a PE ratio of 18.21 and a beta of 0.94. The stock has a 50 day moving average price of $19.01 and a 200 day moving average price of $20.66.
Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Wednesday, August 30th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $235.10 million during the quarter, compared to the consensus estimate of $232.26 million. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.22 earnings per share. On average, equities analysts anticipate that Shoe Carnival will post $1.45 EPS for the current fiscal year.
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In other news, Director Charles B. Tomm acquired 11,190 shares of Shoe Carnival stock in a transaction on Friday, September 29th. The stock was acquired at an average cost of $22.69 per share, with a total value of $253,901.10. Following the transaction, the director now owns 16,948 shares of the company’s stock, valued at approximately $384,550.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 28.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SCVL. Russell Investments Group Ltd. grew its position in shares of Shoe Carnival by 2.2% during the 1st quarter. Russell Investments Group Ltd. now owns 53,541 shares of the company’s stock valued at $1,315,000 after acquiring an additional 1,152 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Shoe Carnival by 6.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 18,693 shares of the company’s stock valued at $459,000 after acquiring an additional 1,200 shares during the period. Comerica Bank grew its position in shares of Shoe Carnival by 3.7% during the 1st quarter. Comerica Bank now owns 14,693 shares of the company’s stock valued at $376,000 after acquiring an additional 530 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Shoe Carnival by 5.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock valued at $100,000 after acquiring an additional 200 shares during the period. Finally, Swiss National Bank grew its position in shares of Shoe Carnival by 9.5% during the 1st quarter. Swiss National Bank now owns 24,300 shares of the company’s stock valued at $597,000 after acquiring an additional 2,100 shares during the period. 62.74% of the stock is owned by hedge funds and other institutional investors.
Shoe Carnival Company Profile
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. It also offers online shopping on its e-commerce site at www.shoecarnival.com.
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