Shoe Carnival (NASDAQ:SCVL) Rating Lowered to Sell at StockNews.com

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

Separately, Williams Trading raised 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 SCVL opened at $33.90 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 3.88 and a quick ratio of 0.70. Shoe Carnival has a one year low of $22.75 and a one year high of $46.92. The company has a 50-day simple moving average of $38.78 and a two-hundred day simple moving average of $38.66. The firm has a market capitalization of $921.06 million, a PE ratio of 12.46 and a beta of 1.56.

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. On average, analysts anticipate that Shoe Carnival will post 2.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Shoe Carnival

Large investors have recently made changes to their positions in the business. Innealta Capital LLC purchased a new position in shares of Shoe Carnival during the second quarter valued at approximately $41,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Shoe Carnival during the third quarter valued at approximately $62,000. Quarry LP bought a new stake in shares of Shoe Carnival during the third quarter valued at approximately $66,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Shoe Carnival during the third quarter valued at approximately $76,000. Finally, FMR LLC increased its position in shares of 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 acquiring an additional 343 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.