Shoe Carnival (NASDAQ:SCVL) Upgraded at BidaskClub

Shoe Carnival (NASDAQ:SCVL) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, October 19th, BidAskClub reports.

A number of other equities research analysts have also recently commented on SCVL. Wedbush restated an “outperform” rating on shares of Shoe Carnival in a research note on Thursday, August 29th. Susquehanna Bancshares set a $37.00 target price on shares of Shoe Carnival and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Pivotal Research set a $31.00 target price on shares of Shoe Carnival and gave the stock a “buy” rating in a research note on Friday, August 23rd. Zacks Investment Research upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Saturday, August 31st. Finally, ValuEngine upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $33.50.

Shares of NASDAQ SCVL traded down $0.10 during mid-day trading on Friday, reaching $36.28. 78,900 shares of the company’s stock traded hands, compared to its average volume of 372,534. The business has a 50-day simple moving average of $33.28 and a 200 day simple moving average of $29.71. 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 current ratio of 2.21 and a quick ratio of 0.29. The stock has a market cap of $520.12 million, a P/E ratio of 14.81 and a beta of 0.79.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Wednesday, August 28th. The company reported $0.80 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.80. Shoe Carnival had a net margin of 3.81% and a return on equity of 12.32%. The firm had revenue of $268.22 million for the quarter, compared to analysts’ expectations of $268.62 million. During the same quarter in the prior year, the business earned $0.76 EPS. The business’s quarterly revenue was down .1% on a year-over-year basis. Equities research analysts anticipate that Shoe Carnival will post 2.65 earnings per share for the current fiscal year.

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

Several large investors have recently added to or reduced their stakes in the company. United Services Automobile Association lifted its position in shares of Shoe Carnival by 10.1% during the second quarter. United Services Automobile Association now owns 7,539 shares of the company’s stock worth $208,000 after purchasing an additional 689 shares during the last quarter. Rhumbline Advisers lifted its position in shares of Shoe Carnival by 2.4% during the third quarter. Rhumbline Advisers now owns 35,674 shares of the company’s stock worth $1,156,000 after purchasing an additional 832 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Shoe Carnival by 11.6% during the second quarter. New York State Teachers Retirement System now owns 8,119 shares of the company’s stock worth $224,000 after purchasing an additional 841 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Shoe Carnival by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 185,925 shares of the company’s stock worth $5,132,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Eqis Capital Management Inc. lifted its position in shares of Shoe Carnival by 15.8% during the third quarter. Eqis Capital Management Inc. now owns 9,190 shares of the company’s stock worth $298,000 after purchasing an additional 1,251 shares during the last quarter. Institutional investors and hedge funds own 95.18% 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.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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