Shoe Carnival (NASDAQ:SCVL) Stock Rating Upgraded by Zacks Investment Research

Shoe Carnival (NASDAQ:SCVL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The brokerage presently has a $41.00 price target on the stock. Zacks Investment Research‘s price target suggests a potential upside of 11.96% from the stock’s previous close.

According to Zacks, “Shoe Carnival, Inc. is one of the nation’s largest family footwear retailers, offering a broad assortment of moderately priced dress, casual and athletic footwear for men, women and children with emphasis on national and regional name brands. The Company operates 404 stores in 33 states and Puerto Rico, and offers online shopping at www.shoecarnival.com. Headquartered in Evansville, IN, Shoe Carnival trades on the NASDAQ Stock Market LLC under the symbol SCVL. Shoe Carnival is committed to earning the highest level of respect of their customers, shareholders, communities and employees. “

Several other analysts also recently commented on the company. Wedbush raised their target price on Shoe Carnival from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday. BidaskClub upgraded Shoe Carnival from a “hold” rating to a “buy” rating in a research note on Saturday, October 19th. Susquehanna Bancshares set a $37.00 target price on Shoe Carnival and gave the company a “buy” rating in a research note on Tuesday, October 8th. Pivotal Research set a $31.00 price target on shares of Shoe Carnival and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, ValuEngine raised shares of Shoe Carnival from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Eight research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and an average target price of $37.75.

NASDAQ SCVL traded up $0.19 on Friday, reaching $36.62. The company had a trading volume of 137,000 shares, compared to its average volume of 123,875. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.21 and a quick ratio of 0.29. The business has a 50 day moving average of $33.70 and a two-hundred day moving average of $29.70. The firm has a market cap of $534.49 million, a price-to-earnings ratio of 14.95 and a beta of 0.79. Shoe Carnival has a fifty-two week low of $21.47 and a fifty-two week high of $42.02.

Shoe Carnival (NASDAQ:SCVL) last issued its earnings results on Wednesday, August 28th. The company reported $0.80 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.80. The company had revenue of $268.22 million during the quarter, compared to the consensus estimate of $268.62 million. Shoe Carnival had a return on equity of 12.32% and a net margin of 3.81%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS. As a group, research analysts predict that Shoe Carnival will post 2.67 earnings per share for the current fiscal year.

In related news, Director Kent A. Kleeberger sold 1,090 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $28.68, for a total value of $31,261.20. Following the transaction, the director now owns 15,054 shares of the company’s stock, valued at approximately $431,748.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles B. Tomm sold 8,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $29.49, for a total transaction of $235,920.00. Following the completion of the transaction, the director now directly owns 13,039 shares in the company, valued at approximately $384,520.11. The disclosure for this sale can be found here. 23.60% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Grantham Mayo Van Otterloo & Co. LLC lifted its position in shares of Shoe Carnival by 20.6% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 305,700 shares of the company’s stock worth $8,437,000 after buying an additional 52,300 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Shoe Carnival by 15.6% during the 2nd quarter. Vanguard Group Inc. now owns 889,584 shares of the company’s stock worth $24,553,000 after buying an additional 120,168 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Shoe Carnival by 463.7% during the 2nd quarter. Russell Investments Group Ltd. now owns 174,348 shares of the company’s stock worth $4,808,000 after buying an additional 143,420 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Shoe Carnival by 65.1% during the 2nd quarter. Bank of America Corp DE now owns 170,820 shares of the company’s stock worth $4,715,000 after buying an additional 67,374 shares in the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in shares of Shoe Carnival during the 2nd quarter worth approximately $3,856,000. 92.68% of the stock is currently owned by hedge funds and other institutional investors.

About Shoe Carnival

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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