Shoe Carnival, Inc. (NASDAQ:SCVL) was upgraded by equities researchers at Susquehanna Bancshares Inc from a “neutral” rating to a “positive” rating in a research note issued on Wednesday. The firm presently has a $23.00 price target on the stock, up from their prior price target of $19.00. Susquehanna Bancshares Inc’s target price suggests a potential upside of 13.36% from the company’s current price.

SCVL has been the subject of a number of other research reports. Zacks Investment Research lowered Shoe Carnival from a “buy” rating to a “hold” rating in a research report on Tuesday. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 price target (down previously from $21.00) on shares of Shoe Carnival in a research report on Thursday, August 31st. ValuEngine raised Shoe Carnival from a “hold” rating to a “buy” rating in a research report on Wednesday, May 24th. BidaskClub lowered Shoe Carnival from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 10th. Finally, TheStreet lowered Shoe Carnival from a “b-” rating to a “c+” rating in a research report on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $22.14.

Shares of Shoe Carnival (NASDAQ SCVL) opened at 20.13 on Wednesday. Shoe Carnival has a 1-year low of $15.08 and a 1-year high of $31.79. The company’s 50-day moving average price is $17.66 and its 200 day moving average price is $20.94. The firm has a market cap of $342.59 million, a PE ratio of 16.65 and a beta of 0.93.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Wednesday, August 30th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $235.10 million during the quarter, compared to analyst estimates of $232.26 million. Shoe Carnival had a return on equity of 7.37% and a net margin of 2.09%. Shoe Carnival’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.22 EPS. On average, analysts predict that Shoe Carnival will post $1.44 EPS for the current year.

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Hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 worth $100,000 after acquiring an additional 200 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Shoe Carnival during the 2nd quarter worth approximately $175,000. JPMorgan Chase & Co. grew its holdings in shares of Shoe Carnival by 482.3% during the 1st quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock worth $186,000 after acquiring an additional 6,260 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Shoe Carnival by 13.6% during the 2nd quarter. Alliancebernstein L.P. now owns 10,850 shares of the company’s stock worth $227,000 after acquiring an additional 1,300 shares during the period. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Shoe Carnival during the 1st quarter worth approximately $249,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

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.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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