Shoe Carnival (NASDAQ:SCVL) was upgraded by equities researchers at Pivotal Research from a “hold” rating to a “buy” rating in a report issued on Friday, March 16th, Marketbeat Ratings reports. The firm currently has a $30.00 price objective on the stock, up from their prior price objective of $29.00. Pivotal Research’s price objective suggests a potential upside of 25.73% from the stock’s current price.
A number of other research analysts have also recently commented on SCVL. BidaskClub upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Friday, February 9th. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $28.00 price target on shares of Shoe Carnival in a research note on Friday, November 17th. TheStreet upgraded Shoe Carnival from a “c” rating to a “b-” rating in a report on Friday, November 17th. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective (down previously from $27.00) on shares of Shoe Carnival in a report on Friday, November 17th. Finally, Jefferies Group set a $22.00 price target on Shoe Carnival and gave the company a “hold” rating in a report on Saturday, November 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $26.43.
Shares of NASDAQ:SCVL traded up $0.08 during midday trading on Friday, reaching $23.86. The company had a trading volume of 156,157 shares, compared to its average volume of 348,624. The company has a market capitalization of $393.02, a P/E ratio of 16.01, a price-to-earnings-growth ratio of 1.04 and a beta of 0.81. Shoe Carnival has a 52-week low of $15.07 and a 52-week high of $28.38.
Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Tuesday, March 27th. The company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The business had revenue of $243.23 million for the quarter, compared to the consensus estimate of $248.19 million. Shoe Carnival had a net margin of 1.86% and a return on equity of 8.02%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share. analysts predict that Shoe Carnival will post 1.92 EPS for the current year.
Shoe Carnival declared that its board has approved a share buyback program on Tuesday, December 19th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
In other Shoe Carnival news, EVP W Kerry Jackson sold 4,000 shares of Shoe Carnival stock in a transaction that occurred on Thursday, April 5th. The stock was sold at an average price of $23.82, for a total value of $95,280.00. Following the sale, the executive vice president now owns 131,187 shares of the company’s stock, valued at approximately $3,124,874.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Clifton E. Sifford sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 4th. The shares were sold at an average price of $23.75, for a total value of $178,125.00. Following the transaction, the chief executive officer now directly owns 238,903 shares in the company, valued at approximately $5,673,946.25. The disclosure for this sale can be found here. 28.50% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new stake in shares of Shoe Carnival in the 4th quarter worth $110,000. Brandywine Global Investment Management LLC purchased a new stake in shares of Shoe Carnival in the 4th quarter worth $172,000. Texas Permanent School Fund purchased a new stake in shares of Shoe Carnival in the 4th quarter worth $206,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Shoe Carnival during the 3rd quarter worth $222,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Shoe Carnival during the 3rd quarter worth $224,000. Institutional investors and hedge funds own 78.20% of the company’s stock.
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Shoe Carnival Company Profile
Shoe Carnival, Inc, together with its subsidiaries, operates as family footwear retailer in the United States. It provides various dress, casual, and athletic footwear products for men, women, and children, as well as accessories, including socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.
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