Shoe Carnival (NASDAQ:SCVL)‘s stock had its “buy” rating restated by stock analysts at Pivotal Research in a research report issued on Monday, AnalystRatings.com reports. They currently have a $38.00 price target on the stock, down from their prior price target of $42.00. Pivotal Research’s price target points to a potential upside of 17.61% from the company’s current price.
The analysts wrote, “Weather improved dramatically from the first five weeks of 1Q to the last eight weeks of the quarter.””
Several other equities research analysts also recently weighed in on SCVL. BidaskClub downgraded shares of Shoe Carnival from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 31st. ValuEngine cut shares of Shoe Carnival from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Wedbush restated an “outperform” rating and issued a $47.00 target price on shares of Shoe Carnival in a report on Monday, March 18th. Zacks Investment Research cut shares of Shoe Carnival from a “buy” rating to a “hold” rating in a report on Wednesday, March 20th. Finally, Sidoti upgraded shares of Shoe Carnival from a “neutral” rating to a “buy” rating in a report on Friday, April 5th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $40.80.
Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Tuesday, March 26th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.03. Shoe Carnival had a net margin of 3.70% and a return on equity of 12.42%. The business had revenue of $234.70 million during the quarter, compared to the consensus estimate of $232.84 million. During the same quarter last year, the firm earned $0.11 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. As a group, equities analysts anticipate that Shoe Carnival will post 2.67 EPS for the current fiscal year.
In other news, Director Jeffrey C. Gerstel sold 1,200 shares of Shoe Carnival stock in a transaction on Monday, April 15th. The shares were sold at an average price of $36.50, for a total transaction of $43,800.00. Following the transaction, the director now owns 5,526 shares in the company, valued at approximately $201,699. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 22.70% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can increased its holdings in Shoe Carnival by 18.0% in the 4th quarter. Great West Life Assurance Co. Can now owns 15,190 shares of the company’s stock valued at $471,000 after acquiring an additional 2,321 shares during the last quarter. Legal & General Group Plc increased its holdings in Shoe Carnival by 4.4% in the 3rd quarter. Legal & General Group Plc now owns 22,217 shares of the company’s stock valued at $850,000 after acquiring an additional 942 shares during the last quarter. Squarepoint Ops LLC increased its holdings in Shoe Carnival by 212.3% in the 4th quarter. Squarepoint Ops LLC now owns 44,814 shares of the company’s stock valued at $1,502,000 after acquiring an additional 30,464 shares during the last quarter. Two Sigma Securities LLC bought a new stake in Shoe Carnival in the 4th quarter valued at $258,000. Finally, QS Investors LLC increased its holdings in Shoe Carnival by 224.0% in the 4th quarter. QS Investors LLC now owns 4,050 shares of the company’s stock valued at $136,000 after acquiring an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 91.10% 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, scarves, and wallets.
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