Shoe Carnival (NASDAQ:SCVL) had its target price boosted by equities researchers at Pivotal Research from $39.00 to $43.00 in a research note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the stock. Pivotal Research’s price target suggests a potential upside of 2.67% from the stock’s previous close.
A number of other research analysts have also recently weighed in on SCVL. ValuEngine upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating in a research note on Saturday, May 26th. TheStreet upgraded shares of Shoe Carnival from a “c+” rating to a “b” rating in a research note on Friday, May 25th. BidaskClub upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating in a research note on Thursday, May 31st. Zacks Investment Research upgraded shares of Shoe Carnival from a “hold” rating to a “strong-buy” rating and set a $37.00 target price on the stock in a research note on Thursday, May 31st. Finally, Citigroup cut shares of Shoe Carnival from a “buy” rating to a “neutral” rating and set a $32.00 target price on the stock. in a research note on Thursday, July 19th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $33.57.
SCVL opened at $41.88 on Tuesday. The stock has a market capitalization of $714.76 million, a price-to-earnings ratio of 28.11 and a beta of 0.89. Shoe Carnival has a twelve month low of $17.94 and a twelve month high of $45.00.
Shoe Carnival (NASDAQ:SCVL) last released its earnings results on Tuesday, August 28th. The company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.20. The firm had revenue of $268.37 million for the quarter, compared to analysts’ expectations of $265.16 million. Shoe Carnival had a net margin of 2.98% and a return on equity of 12.06%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. equities research analysts anticipate that Shoe Carnival will post 2.16 EPS for the current year.
In related news, Director Kent A. Kleeberger sold 2,172 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $44.11, for a total transaction of $95,806.92. Following the sale, the director now directly owns 16,460 shares in the company, valued at approximately $726,050.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 22.70% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC purchased a new stake in shares of Shoe Carnival during the 2nd quarter valued at approximately $125,000. MetLife Investment Advisors LLC purchased a new stake in shares of Shoe Carnival during the 4th quarter valued at approximately $110,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Shoe Carnival during the 2nd quarter valued at approximately $141,000. Bank of Montreal Can lifted its stake in shares of Shoe Carnival by 9,179.7% during the 2nd quarter. Bank of Montreal Can now owns 5,939 shares of the company’s stock valued at $192,000 after buying an additional 5,875 shares in the last quarter. Finally, Texas Permanent School Fund purchased a new stake in shares of Shoe Carnival during the 2nd quarter valued at approximately $226,000. Institutional investors own 79.13% of the company’s stock.
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, jewelry, scarves, and wallets.
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