Shoe Carnival, Inc. (SCVL) Lifted to Buy at Zacks Investment Research
Shoe Carnival, Inc. (NASDAQ:SCVL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $21.00 price target on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.09% from the company’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. “
A number of other equities analysts also recently issued reports on SCVL. Susquehanna Bancshares Inc reissued a “hold” rating and issued a $18.00 price objective on shares of Shoe Carnival in a report on Monday, August 28th. Jefferies Group LLC reissued a “hold” rating and issued a $20.00 price objective (down previously from $21.00) on shares of Shoe Carnival in a report on Thursday, August 31st. ValuEngine raised shares of Shoe Carnival from a “hold” rating to a “buy” rating in a report on Wednesday, May 24th. TheStreet downgraded shares of Shoe Carnival from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. Finally, BidaskClub downgraded shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Shoe Carnival presently has a consensus rating of “Hold” and an average target price of $21.43.
Shoe Carnival (NASDAQ:SCVL) opened at 18.57 on Thursday. The stock has a market capitalization of $320.46 million, a PE ratio of 15.79 and a beta of 0.93. Shoe Carnival has a 1-year low of $15.07 and a 1-year high of $31.79. The firm has a 50-day moving average of $17.54 and a 200-day moving average of $21.39.
Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Wednesday, August 30th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The firm had revenue of $235.10 million during the quarter, compared to analyst estimates of $232.26 million. During the same period in the previous year, the business posted $0.22 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. Equities analysts expect that Shoe Carnival will post $1.43 EPS for the current fiscal year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new position in Shoe Carnival during the second quarter valued at approximately $175,000. Goldman Sachs Group Inc. lifted its holdings in Shoe Carnival by 140.8% during the second quarter. Goldman Sachs Group Inc. now owns 33,355 shares of the company’s stock valued at $697,000 after purchasing an additional 19,501 shares in the last quarter. Petrus Trust Company LTA purchased a new position in Shoe Carnival during the second quarter valued at approximately $352,000. OxFORD Asset Management LLP purchased a new position in Shoe Carnival during the second quarter valued at approximately $539,000. Finally, Citadel Advisors LLC purchased a new position in Shoe Carnival during the second quarter valued at approximately $1,233,000. 61.90% of the stock is currently owned by 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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