BidaskClub Downgrades Shoe Carnival (SCVL) to Strong Sell
BidaskClub downgraded shares of Shoe Carnival (NASDAQ:SCVL) from a sell rating to a strong sell rating in a research note released on Tuesday.
Other research analysts have also recently issued research reports about the company. Pivotal Research reaffirmed a buy rating and issued a $45.00 price target (down previously from $47.00) on shares of Shoe Carnival in a report on Tuesday, January 15th. ValuEngine raised Shoe Carnival from a hold rating to a buy rating in a report on Thursday, January 3rd. Zacks Investment Research cut Shoe Carnival from a buy rating to a hold rating in a report on Wednesday, March 20th. Wedbush reaffirmed an outperform rating and issued a $47.00 price target on shares of Shoe Carnival in a report on Monday, March 18th. Finally, Susquehanna Bancshares raised Shoe Carnival from a neutral rating to a positive rating and set a $42.00 price target on the stock in a report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $39.17.
NASDAQ SCVL opened at $30.48 on Tuesday. The firm has a market capitalization of $474.45 million, a price-to-earnings ratio of 20.46 and a beta of 0.78. Shoe Carnival has a 1 year low of $22.21 and a 1 year high of $45.00.
In other Shoe Carnival news, Director Kent A. Kleeberger sold 1,074 shares of the business’s stock in a transaction on Thursday, December 27th. The shares were sold at an average price of $33.98, for a total transaction of $36,494.52. Following the sale, the director now directly owns 13,886 shares of the company’s stock, valued at approximately $471,846.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 22.70% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in SCVL. Smith Asset Management Group LP acquired a new stake in Shoe Carnival during the 4th quarter valued at $69,000. Advisor Group Inc. raised its stake in Shoe Carnival by 1,066.1% during the 4th quarter. Advisor Group Inc. now owns 2,134 shares of the company’s stock valued at $71,000 after purchasing an additional 1,951 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in Shoe Carnival by 232.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,044 shares of the company’s stock valued at $102,000 after purchasing an additional 2,128 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Shoe Carnival during the 4th quarter valued at $111,000. Finally, Oregon Public Employees Retirement Fund acquired a new stake in Shoe Carnival during the 4th quarter valued at $128,000. 87.32% of the stock is currently 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, jewelry, scarves, and wallets.
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