Shoe Carnival (NASDAQ:SCVL) Rating Increased to Hold at StockNews.com

Shoe Carnival (NASDAQ:SCVL) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Saturday.

Separately, Williams Trading increased their target price on shares of Shoe Carnival from $42.00 to $51.00 and gave the company a “buy” rating in a research note on Thursday, August 29th.

Shoe Carnival Stock Up 0.4 %

Shares of NASDAQ SCVL opened at $33.76 on Friday. The company has a current ratio of 3.88, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. Shoe Carnival has a 12-month low of $24.07 and a 12-month high of $46.92. The firm’s 50-day moving average price is $37.97 and its 200-day moving average price is $38.62. The stock has a market capitalization of $917.26 million, a price-to-earnings ratio of 12.41 and a beta of 1.56.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. The business had revenue of $332.70 million during the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a return on equity of 12.52% and a net margin of 6.12%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period last year, the company earned $0.71 EPS. On average, equities research analysts anticipate that Shoe Carnival will post 2.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Shoe Carnival

Institutional investors and hedge funds have recently modified their holdings of the business. CANADA LIFE ASSURANCE Co grew its position in Shoe Carnival by 11.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 15,369 shares of the company’s stock valued at $562,000 after acquiring an additional 1,562 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Shoe Carnival by 103.4% during the 1st quarter. Janus Henderson Group PLC now owns 16,611 shares of the company’s stock valued at $608,000 after buying an additional 8,445 shares in the last quarter. Summit Global Investments purchased a new stake in Shoe Carnival in the 2nd quarter valued at about $244,000. SummerHaven Investment Management LLC boosted its position in Shoe Carnival by 1.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 31,550 shares of the company’s stock valued at $1,164,000 after buying an additional 402 shares during the period. Finally, Innealta Capital LLC bought a new position in Shoe Carnival in the 2nd quarter worth about $41,000. 66.05% of the stock is owned by institutional investors.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.