Shoe Carnival (NASDAQ:SHOE) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Shoe Carnival (NASDAQ:SHOE) from a hold rating to a sell rating in a research note issued to investors on Saturday,Wall Street Zen reports.

A number of other brokerages have also issued reports on SHOE. Weiss Ratings initiated coverage on shares of Shoe Carnival in a research note on Monday, June 15th. They issued a “hold (c-)” rating on the stock. Zacks Research downgraded Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Shoe Carnival has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Shoe Carnival Price Performance

SHOE stock opened at $12.91 on Friday. Shoe Carnival has a twelve month low of $10.20 and a twelve month high of $24.10. The firm has a market capitalization of $350.89 million, a P/E ratio of 14.67 and a beta of 1.40. The stock’s 50 day moving average is $14.77.

Shoe Carnival (NASDAQ:SHOE) last posted its quarterly earnings results on Thursday, September 10th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.11). The company had revenue of $284.31 million during the quarter, compared to analyst estimates of $299.19 million. Shoe Carnival had a net margin of 2.20% and a return on equity of 5.32%. The company’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.70 earnings per share. Shoe Carnival has set its FY 2026 guidance at 0.750-0.900 EPS. On average, research analysts forecast that Shoe Carnival will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Shoe Carnival

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Huntington National Bank lifted its holdings in shares of Shoe Carnival by 45.5% in the 4th quarter. Huntington National Bank now owns 2,169 shares of the company’s stock worth $37,000 after purchasing an additional 678 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Shoe Carnival during the 2nd quarter worth $46,000. Legal & General Group Plc bought a new position in Shoe Carnival during the 2nd quarter worth $56,000. State of Wyoming acquired a new stake in Shoe Carnival in the second quarter worth $61,000. Finally, Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Shoe Carnival in the second quarter worth $152,000. 66.05% of the stock is currently owned by institutional investors and hedge funds.

About Shoe Carnival

Shoe Carnival, Inc is a family footwear retailer that sells shoes, sandals, boots, athletic footwear, accessories and related products for women, men and children. Its merchandise assortment includes national brands as well as private-label products, with offerings spanning casual, dress, work and athletic categories.

The company operates through a network of retail stores and an e-commerce platform, serving customers primarily in the United States. Shoe Carnival emphasizes value-oriented pricing, frequent promotions and an in-store shopping experience designed to appeal to families and budget-conscious consumers.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded through organic growth and acquisitions, including its purchase of Shoe Station.