Shoe Carnival, Inc. (SCVL) Coverage Initiated at Pivotal Research
Analysts at Pivotal Research began coverage on shares of Shoe Carnival, Inc. (NASDAQ:SCVL) in a research report issued on Tuesday. The brokerage set a “hold” rating and a $28.00 price target on the stock. Pivotal Research’s price objective would suggest a potential upside of 3.74% from the stock’s current price.
The analysts wrote, “We are initiating coverage with a HOLD rating and a $28 price target. We like it when a retailer is posting accelerating comps against easing comparisons, especially when there’s a catalyst driving the improvement, which is the case for SCVL. But we don’t like secular migration from stores to digital, which we believe is a pressure point on market share and profitability. Ultimately, our rating comes down to valuation, and we can’t justify a multiple that would allow us to be more constructive on the shares at this juncture. Migration from stores to digital. SCVL is not immune to the changing patterns of consumer purchasing behavior. Our view is that digital migration puts pressure on a traditional retailer in terms of market share and profitability. Potential share loss arises from the growth of Amazon and from vendors focusing on their own digital strategies.””
A number of other equities research analysts also recently commented on SCVL. Zacks Investment Research raised Shoe Carnival from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub downgraded Shoe Carnival from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Wedbush started coverage on Shoe Carnival in a report on Monday, August 14th. They issued an “outperform” rating and a $21.00 target price for the company. Susquehanna Bancshares Inc reissued a “hold” rating and issued a $18.00 target price 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 target price (down previously from $21.00) on shares of Shoe Carnival in a report on Thursday, August 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. Shoe Carnival currently has a consensus rating of “Hold” and an average price target of $24.63.
Shoe Carnival (SCVL) opened at $26.99 on Tuesday. Shoe Carnival has a 1 year low of $15.07 and a 1 year high of $31.79. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.16 and a quick ratio of 0.43. The firm has a market cap of $457.66, a price-to-earnings ratio of 18.55, a P/E/G ratio of 1.52 and a beta of 0.90.
Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Thursday, November 16th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.08. Shoe Carnival had a net margin of 2.17% and a return on equity of 7.81%. The firm had revenue of $287.47 million for the quarter, compared to analyst estimates of $286.90 million. equities analysts anticipate that Shoe Carnival will post 1.48 earnings per share for the current year.
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In other news, Director Charles B. Tomm bought 11,190 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was purchased at an average price of $22.69 per share, with a total value of $253,901.10. Following the purchase, the director now owns 16,948 shares of the company’s stock, valued at approximately $384,550.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 28.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP acquired a new position in Shoe Carnival in the 3rd quarter valued at about $304,000. California Public Employees Retirement System raised its stake in Shoe Carnival by 24.5% in the 3rd quarter. California Public Employees Retirement System now owns 61,990 shares of the company’s stock valued at $1,387,000 after purchasing an additional 12,190 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Shoe Carnival in the 3rd quarter valued at about $224,000. Highbridge Capital Management LLC purchased a new stake in Shoe Carnival in the 3rd quarter valued at about $581,000. Finally, OxFORD Asset Management LLP grew its holdings in Shoe Carnival by 100.5% in the 3rd quarter. OxFORD Asset Management LLP now owns 51,784 shares of the company’s stock valued at $1,152,000 after buying an additional 25,952 shares during the period. 62.72% of the stock is owned by hedge funds and other institutional investors.
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.
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