BidaskClub Upgrades Shoe Carnival (NASDAQ:SCVL) to “Buy”

Share on StockTwits

Shoe Carnival (NASDAQ:SCVL) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday, BidAskClub reports.

Several other equities research analysts also recently commented on the stock. Wedbush restated an “outperform” rating on shares of Shoe Carnival in a research report on Thursday, August 29th. Zacks Investment Research upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Saturday, August 31st. Susquehanna Bancshares set a $37.00 price target on shares of Shoe Carnival and gave the company a “buy” rating in a research report 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 upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Shoe Carnival presently has an average rating of “Buy” and a consensus price target of $33.50.

Shares of NASDAQ:SCVL opened at $33.27 on Friday. The stock has a market capitalization of $492.97 million, a price-to-earnings ratio of 13.58 and a beta of 0.80. Shoe Carnival has a 1-year low of $21.47 and a 1-year high of $43.75. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.29 and a current ratio of 2.21. The company has a 50 day moving average price of $31.93 and a 200 day moving average price of $29.68.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly 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 business had revenue of $268.22 million during the quarter, compared to the consensus estimate of $268.62 million. Shoe Carnival had a net margin of 3.81% and a return on equity of 12.32%. The firm’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.76 EPS. On average, sell-side analysts expect that Shoe Carnival will post 2.65 EPS for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the business. Grantham Mayo Van Otterloo & Co. LLC lifted its position in Shoe Carnival by 20.6% in 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. Russell Investments Group Ltd. raised its holdings 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 valued at $4,808,000 after purchasing an additional 143,420 shares in the last quarter. Bank of America Corp DE raised its holdings 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 valued at $4,715,000 after purchasing an additional 67,374 shares in the last quarter. Vanguard Group Inc. raised its holdings 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 valued at $24,553,000 after purchasing an additional 120,168 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 valued at $3,856,000. Institutional investors own 94.50% of the company’s stock.

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, scarves, and wallets.

Featured Story: How does a dividend reinvestment plan work?

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

Receive News & Ratings for Shoe Carnival Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Shoe Carnival and related companies with MarketBeat.com's FREE daily email newsletter.