Shoe Carnival (NASDAQ:SCVL) Upgraded by StockNews.com to Hold Rating

Shoe Carnival (NASDAQ:SCVL) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued 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 research note on Thursday, August 29th.

Shoe Carnival Trading Up 0.4 %

NASDAQ:SCVL opened at $33.76 on Friday. The company has a 50-day moving average price of $37.97 and a 200-day moving average price of $38.62. The stock has a market cap of $917.26 million, a price-to-earnings ratio of 12.41 and a beta of 1.56. The company has a current ratio of 3.88, a quick ratio of 0.89 and a debt-to-equity ratio of 0.50. Shoe Carnival has a 12 month low of $24.07 and a 12 month high of $46.92.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Thursday, September 5th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. The business had revenue of $332.70 million during the quarter, compared to analyst estimates of $331.45 million. During the same period last year, the business posted $0.71 earnings per share. Shoe Carnival’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts predict that Shoe Carnival will post 2.6 EPS for the current year.

Institutional Investors Weigh In On Shoe Carnival

A number of institutional investors have recently made changes to their positions in the company. Innealta Capital LLC purchased a new position in Shoe Carnival in the 2nd quarter worth approximately $41,000. Harvest Fund Management Co. Ltd bought a new stake in Shoe Carnival in the 3rd quarter worth approximately $62,000. Quarry LP bought a new stake in shares of Shoe Carnival in the third quarter worth $66,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Shoe Carnival during the 3rd quarter valued at about $76,000. Finally, FMR LLC increased its holdings in Shoe Carnival by 8.7% during the third quarter. FMR LLC now owns 4,266 shares of the company’s stock valued at $187,000 after buying an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.