Investors Buy Shoe Carnival Inc. (SCVL) on Weakness
Investors bought shares of Shoe Carnival Inc. (NASDAQ:SCVL) on weakness during trading hours on Friday. $35.60 million flowed into the stock on the tick-up and $2.78 million flowed out of the stock on the tick-down, for a money net flow of $32.82 million into the stock. Of all equities tracked, Shoe Carnival had the highest net in-flow for the day. Shoe Carnival traded down ($0.10) for the day and closed at $29.64
Several brokerages have recently weighed in on SCVL. Zacks Investment Research upgraded shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Sidoti began coverage on shares of Shoe Carnival in a report on Tuesday, June 7th. They set a “neutral” rating and a $27.00 price target for the company. Jefferies Group cut their price target on shares of Shoe Carnival from $25.00 to $24.00 and set a “hold” rating for the company in a report on Friday, May 20th. Finally, Sterne Agee CRT reissued a “buy” rating on shares of Shoe Carnival in a report on Thursday, May 26th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.60.
The stock’s 50-day moving average price is $26.84 and its 200 day moving average price is $25.30. The company has a market capitalization of $582.13 million and a P/E ratio of 20.01.
Shoe Carnival, Inc is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. The Company’s products assortment includes dress and casual shoes, sandals, boots and an assortment of athletic footwear for men, women and children.
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