Wedbush set a $32.00 price target on Shoe Carnival (NASDAQ:SCVL) in a research report report published on Wednesday, TipRanks reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Shoe Carnival from a sell rating to a strong sell rating in a research report on Thursday, August 1st. Pivotal Research restated a buy rating and set a $38.00 target price (down from $42.00) on shares of Shoe Carnival in a research report on Monday, May 20th. BidaskClub raised shares of Shoe Carnival from a strong sell rating to a sell rating in a report on Wednesday. Finally, Zacks Investment Research cut shares of Shoe Carnival from a buy rating to a hold rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $35.75.

NASDAQ SCVL opened at $23.85 on Wednesday. The company has a market capitalization of $366.68 million, a PE ratio of 9.73 and a beta of 1.00. The company has a fifty day moving average of $25.65 and a 200 day moving average of $30.78. Shoe Carnival has a 1 year low of $21.47 and a 1 year high of $45.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.66 and a quick ratio of 0.28.

Shoe Carnival (NASDAQ:SCVL) last posted its earnings results on Wednesday, May 22nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.06). The business had revenue of $253.80 million for the quarter, compared to analyst estimates of $259.24 million. Shoe Carnival had a net margin of 3.81% and a return on equity of 12.20%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Research analysts expect that Shoe Carnival will post 2.64 earnings per share for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. United Services Automobile Association increased its holdings in Shoe Carnival by 10.1% in the second quarter. United Services Automobile Association now owns 7,539 shares of the company’s stock valued at $208,000 after buying an additional 689 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Shoe Carnival by 11.6% during the second quarter. New York State Teachers Retirement System now owns 8,119 shares of the company’s stock worth $224,000 after purchasing an additional 841 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Shoe Carnival during the first quarter worth about $225,000. Virtu Financial LLC purchased a new stake in shares of Shoe Carnival during the first quarter worth about $231,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Shoe Carnival by 39.5% during the first quarter. BNP Paribas Arbitrage SA now owns 7,403 shares of the company’s stock worth $252,000 after purchasing an additional 2,098 shares in the last quarter. 98.20% of the stock is owned by institutional investors.

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, scarves, and wallets.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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