Jefferies Group Reiterates “Hold” Rating for Shoe Carnival Inc. (SCVL)
Shoe Carnival Inc. (NASDAQ:SCVL)‘s stock had its “hold” rating reaffirmed by stock analysts at Jefferies Group in a note issued to investors on Tuesday. They currently have a $28.00 price target on the stock, down from their previous price target of $29.00. Jefferies Group’s price target suggests a potential upside of 7.24% from the company’s previous close.
SCVL has been the topic of a number of other reports. Zacks Investment Research raised Shoe Carnival from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, September 22nd. Susquehanna started coverage on Shoe Carnival in a report on Thursday, September 15th. They set a “neutral” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $27.80.
Shares of Shoe Carnival (NASDAQ:SCVL) opened at 26.11 on Tuesday. The company has a market cap of $491.44 million, a price-to-earnings ratio of 17.79 and a beta of 0.90. The stock has a 50 day moving average price of $27.03 and a 200-day moving average price of $26.23. Shoe Carnival has a 1-year low of $19.09 and a 1-year high of $31.79.
Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Monday, November 28th. The company reported $0.54 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.02. Shoe Carnival had a return on equity of 8.51% and a net margin of 2.86%. The company earned $274.50 million during the quarter. During the same quarter in the prior year, the company posted $0.47 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts forecast that Shoe Carnival will post $1.61 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Acrospire Investment Management LLC raised its position in shares of Shoe Carnival by 859.2% in the third quarter. Acrospire Investment Management LLC now owns 6,350 shares of the company’s stock worth $169,000 after buying an additional 5,688 shares during the last quarter. First Trust Advisors LP purchased a new position in shares of Shoe Carnival during the third quarter worth $205,000. BlackRock Advisors LLC raised its position in shares of Shoe Carnival by 12.4% in the third quarter. BlackRock Advisors LLC now owns 7,887 shares of the company’s stock worth $210,000 after buying an additional 870 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Shoe Carnival during the third quarter worth $280,000. Finally, Alliancebernstein L.P. raised its position in shares of Shoe Carnival by 21.6% in the second quarter. Alliancebernstein L.P. now owns 11,250 shares of the company’s stock worth $282,000 after buying an additional 2,000 shares during the last quarter. Hedge funds and other institutional investors own 66.55% of the company’s stock.
About Shoe Carnival
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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