Shoe Carnival, Inc. (NASDAQ:SCVL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

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 research firms have also recently commented on SCVL. ValuEngine raised shares of Shoe Carnival from a “hold” rating to a “buy” rating in a research note on Wednesday, May 24th. BidaskClub cut shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. B. Riley reissued a “neutral” rating and set a $21.00 target price on shares of Shoe Carnival in a research note on Monday, May 22nd. Jefferies Group LLC reissued a “hold” rating and set a $21.00 target price (down previously from $26.00) on shares of Shoe Carnival in a research note on Thursday, May 25th. Finally, Susquehanna Bancshares Inc reissued a “hold” rating and set a $18.00 target price on shares of Shoe Carnival in a research note on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. Shoe Carnival currently has a consensus rating of “Hold” and a consensus target price of $21.43.

Shoe Carnival (NASDAQ SCVL) opened at 19.30 on Tuesday. Shoe Carnival has a 12 month low of $15.08 and a 12 month high of $31.79. The stock’s 50 day moving average price is $17.63 and its 200-day moving average price is $20.99. The stock has a market cap of $328.47 million, a price-to-earnings ratio of 15.96 and a beta of 0.93.

Shoe Carnival (NASDAQ:SCVL) last released its 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. The business had revenue of $235.10 million during the quarter, compared to analysts’ expectations of $232.26 million. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.22 earnings per share. Equities analysts expect that Shoe Carnival will post $1.43 EPS for the current year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in 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 in the last quarter. Tower Research Capital LLC TRC purchased a new stake in Shoe Carnival during the 2nd quarter valued at about $175,000. JPMorgan Chase & Co. grew its stake in Shoe Carnival by 482.3% during the 1st quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock valued at $186,000 after acquiring an additional 6,260 shares in the last quarter. Alliancebernstein L.P. grew its stake in Shoe Carnival by 13.6% during the 2nd quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock valued at $227,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in Shoe Carnival during the 1st quarter valued at about $249,000. 62.74% of the stock is owned by institutional investors.

About Shoe Carnival

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.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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