Investors Buy Shares of 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 companies 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 equities analysts have weighed in on SCVL shares. Sterne Agee CRT reiterated a “buy” rating on shares of Shoe Carnival in a report on Thursday, May 26th. Jefferies Group reduced their price target on shares of Shoe Carnival from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Friday, May 20th. Zacks Investment Research downgraded shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Thursday, May 19th. Finally, Sidoti started coverage on shares of Shoe Carnival in a research note on Tuesday, June 7th. They issued a “neutral” rating and a $27.00 price target on the stock. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Shoe Carnival currently has a consensus rating of “Hold” and an average target price of $28.60.
The firm has a 50 day moving average of $26.84 and a 200 day moving average of $25.30. The firm has a market cap of $582.13 million and a PE ratio of 20.01.
An institutional investor recently raised its position in Shoe Carnival stock. Schwab Charles Investment Management Inc. raised its stake in shares of Shoe Carnival Inc. (NASDAQ:SCVL) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,490 shares of the company’s stock after buying an additional 1,235 shares during the period. Schwab Charles Investment Management Inc. owned 0.27% of Shoe Carnival worth $1,241,000 as of its most recent filing with the SEC.
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.