Shoe Carnival, Inc. (SCVL) Rating Lowered to Hold at Zacks Investment Research
Shoe Carnival, Inc. (NASDAQ:SCVL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.
According to Zacks, “Shoe Carnival, Inc. is a high volume, value-oriented retailer of family footwear. They adhere to a highly promotional marketing concept that enables them to be competitive in the retail markets they enter. They provide a selection and variety of footwear normally associated with a category killer superstore in an exciting retail environment. “
A number of other analysts also recently issued reports on SCVL. Susquehanna Bancshares Inc upgraded Shoe Carnival from a “neutral” rating to a “positive” rating and raised their price target for the stock from $19.00 to $23.00 in a research report on Wednesday, September 20th. BidaskClub lowered shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. UBS AG upgraded shares of Shoe Carnival from a “neutral” rating to a “positive” rating in a research report on Wednesday, September 20th. ValuEngine cut shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Wedbush assumed coverage on shares of Shoe Carnival in a research note on Monday, August 14th. They issued an “outperform” rating and a $21.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Shoe Carnival currently has a consensus rating of “Hold” and an average target price of $22.14.
Shares of Shoe Carnival (SCVL) opened at 22.38 on Friday. The firm has a 50-day moving average of $17.66 and a 200-day moving average of $20.94. The company has a market cap of $380.89 million, a price-to-earnings ratio of 18.51 and a beta of 0.93. Shoe Carnival has a one year low of $15.08 and a one year high of $31.79.
Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Wednesday, August 30th. The company reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.04. The firm had revenue of $235.10 million during the quarter, compared to analysts’ expectations of $232.26 million. Shoe Carnival had a return on equity of 7.37% and a net margin of 2.09%. The company’s quarterly revenue was up 1.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.22 EPS. Equities research analysts forecast that Shoe Carnival will post $1.44 EPS for the current fiscal year.
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Several hedge funds have recently modified their holdings of the business. Teachers Advisors LLC lifted its position in shares of Shoe Carnival by 0.4% in the 4th quarter. Teachers Advisors LLC now owns 37,887 shares of the company’s stock worth $1,022,000 after purchasing an additional 149 shares during the period. Russell Investments Group Ltd. grew its stake in Shoe Carnival by 2.2% in the first quarter. Russell Investments Group Ltd. now owns 53,541 shares of the company’s stock valued at $1,315,000 after purchasing an additional 1,152 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Shoe Carnival by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 18,693 shares of the company’s stock valued at $459,000 after purchasing an additional 1,200 shares during the last quarter. Comerica Bank grew its stake in Shoe Carnival by 3.7% in the first quarter. Comerica Bank now owns 14,693 shares of the company’s stock valued at $376,000 after purchasing an additional 530 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Shoe Carnival by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock valued at $100,000 after purchasing an additional 200 shares during the last quarter. Institutional investors and hedge funds own 62.74% of the company’s stock.
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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