Shoe Carnival, Inc. (NASDAQ:SCVL) was upgraded by TheStreet from a “c” rating to a “b-” rating in a research report issued on Friday.

SCVL has been the subject of several other reports. Zacks Investment Research lowered Shoe Carnival from a “hold” rating to a “sell” rating in a report on Thursday, July 20th. BidaskClub lowered Shoe Carnival from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Wedbush assumed coverage on Shoe Carnival in a report on Monday, August 14th. They issued an “outperform” rating and a $21.00 price objective for the company. 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. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $20.00 price objective (down from $21.00) on shares of Shoe Carnival in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $24.63.

Shares of Shoe Carnival (SCVL) traded up $1.55 during midday trading on Friday, hitting $28.30. The stock had a trading volume of 846,000 shares, compared to its average volume of 194,061. Shoe Carnival has a twelve month low of $15.07 and a twelve month high of $31.79. The stock has a market capitalization of $481.66, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.43 and a current ratio of 4.16.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Thursday, November 16th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. Shoe Carnival had a return on equity of 7.81% and a net margin of 2.17%. The business had revenue of $287.47 million for the quarter, compared to analyst estimates of $286.90 million. research analysts expect that Shoe Carnival will post 1.48 EPS for the current fiscal year.

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In related news, Director Charles B. Tomm bought 11,190 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was bought at an average cost of $22.69 per share, for a total transaction of $253,901.10. Following the completion of the purchase, the director now directly owns 16,948 shares in the company, valued at approximately $384,550.12. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 32.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SCVL. JPMorgan Chase & Co. boosted its position in shares of Shoe Carnival by 482.3% during the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock worth $186,000 after buying an additional 6,260 shares during the period. California Public Employees Retirement System boosted its position in shares of Shoe Carnival by 5.6% during the first quarter. California Public Employees Retirement System now owns 46,800 shares of the company’s stock worth $1,150,000 after buying an additional 2,500 shares during the period. Vanguard Group Inc. boosted its position in shares of Shoe Carnival by 4.2% during the first quarter. Vanguard Group Inc. now owns 687,504 shares of the company’s stock worth $16,893,000 after buying an additional 27,447 shares during the period. Geode Capital Management LLC boosted its position in shares of Shoe Carnival by 7.5% during the first quarter. Geode Capital Management LLC now owns 225,430 shares of the company’s stock worth $5,537,000 after buying an additional 15,799 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Shoe Carnival by 7.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 93,867 shares of the company’s stock worth $2,307,000 after buying an additional 6,488 shares during the period. Institutional investors and hedge funds own 62.72% of the company’s stock.

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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