Shoe Carnival (NASDAQ:SCVL) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
Several other equities analysts have also commented on SCVL. Zacks Investment Research lowered Shoe Carnival from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 31st. BidaskClub raised Shoe Carnival from a “buy” rating to a “strong-buy” rating in a report on Tuesday, October 16th. Pivotal Research upped their target price on Shoe Carnival from $46.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 20th. Finally, Wedbush lowered their target price on Shoe Carnival from $47.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, November 16th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $38.60.
Shares of NASDAQ:SCVL traded down $0.23 during trading on Thursday, hitting $36.27. 398,200 shares of the company traded hands, compared to its average volume of 300,829. The firm has a market capitalization of $587.25 million, a PE ratio of 24.34 and a beta of 0.73. Shoe Carnival has a one year low of $21.01 and a one year high of $45.00.
Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Thursday, November 15th. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.15. The company had revenue of $269.18 million during the quarter, compared to analyst estimates of $265.40 million. Shoe Carnival had a return on equity of 12.51% and a net margin of 3.17%. On average, sell-side analysts forecast that Shoe Carnival will post 2.38 EPS for the current fiscal year.
In related news, Director Kent A. Kleeberger sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 21st. The stock was sold at an average price of $36.77, for a total value of $55,155.00. Following the completion of the transaction, the director now directly owns 14,960 shares of the company’s stock, valued at approximately $550,079.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.70% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC bought a new position in Shoe Carnival in the 2nd quarter worth approximately $125,000. Itau Unibanco Holding S.A. bought a new position in Shoe Carnival in the 2nd quarter worth approximately $141,000. Pacer Advisors Inc. bought a new position in Shoe Carnival in the 3rd quarter worth approximately $157,000. Bank of Montreal Can grew its holdings in Shoe Carnival by 9,179.7% in the 2nd quarter. Bank of Montreal Can now owns 5,939 shares of the company’s stock worth $192,000 after buying an additional 5,875 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd grew its holdings in Shoe Carnival by 311.6% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 5,754 shares of the company’s stock worth $222,000 after buying an additional 4,356 shares in the last quarter. 81.61% of the stock is owned by institutional investors and hedge funds.
Shoe Carnival Company Profile
Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.
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