Shoe Carnival (NASDAQ:SCVL) Upgraded at StockNews.com

Shoe Carnival (NASDAQ:SCVL) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Williams Trading boosted their price objective on shares of Shoe Carnival from $42.00 to $51.00 and gave the stock a “buy” rating in a report on Thursday, August 29th.

Shoe Carnival Stock Performance

Shares of NASDAQ:SCVL opened at $33.76 on Friday. The business’s 50-day simple moving average is $37.74 and its 200 day simple moving average is $38.63. The company has a market cap of $917.26 million, a P/E ratio of 12.41 and a beta of 1.56. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.89 and a current ratio of 3.88. Shoe Carnival has a one year low of $24.07 and a one year high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The company had revenue of $332.70 million for the quarter, compared to analyst estimates of $331.45 million. During the same quarter last year, the firm posted $0.71 earnings per share. The business’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts forecast that Shoe Carnival will post 2.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its holdings in Shoe Carnival by 8.7% in the third quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after acquiring an additional 343 shares in the last quarter. Rhumbline Advisers increased its position in shares of Shoe Carnival by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 56,711 shares of the company’s stock worth $2,092,000 after purchasing an additional 394 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Shoe Carnival by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 31,550 shares of the company’s stock worth $1,164,000 after purchasing an additional 402 shares during the last quarter. Sei Investments Co. lifted its position in shares of Shoe Carnival by 1.1% during the second quarter. Sei Investments Co. now owns 52,816 shares of the company’s stock worth $1,948,000 after purchasing an additional 595 shares during the last quarter. Finally, Foundry Partners LLC grew its stake in Shoe Carnival by 0.6% in the third quarter. Foundry Partners LLC now owns 149,735 shares of the company’s stock worth $6,566,000 after purchasing an additional 940 shares in the last quarter. 66.05% of the stock is currently owned by hedge funds and other institutional investors.

Shoe Carnival Company Profile

Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.