Shoe Carnival, Inc. (NASDAQ:SCVL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Thursday.

According to Zacks, “Shoe Carnival, Inc. is a high volume, value-oriented retailer of family footwear. They adhere to a highly promotional marketing concept that enables them to be competitive in the retail markets they enter. They provide a selection and variety of footwear normally associated with a category killer superstore in an exciting retail environment. “

Other research analysts have also issued reports about the stock. Johnson Rice lowered shares of Shoe Carnival from a “buy” rating to an “accumulate” rating in a report on Friday, March 24th. ValuEngine raised shares of Shoe Carnival from a “hold” rating to a “buy” rating in a report on Wednesday, May 24th. Sidoti raised shares of Shoe Carnival from a “neutral” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, June 28th. TheStreet lowered shares of Shoe Carnival from a “b-” rating to a “c+” rating in a report on Tuesday, May 23rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $21.00 price objective (down from $26.00) on shares of Shoe Carnival in a report on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Shoe Carnival has a consensus rating of “Hold” and an average price target of $24.00.

Shares of Shoe Carnival (NASDAQ:SCVL) opened at 18.94 on Thursday. The stock’s 50 day moving average is $19.78 and its 200 day moving average is $23.40. Shoe Carnival has a 52-week low of $17.56 and a 52-week high of $31.79. The stock has a market capitalization of $326.85 million, a PE ratio of 16.11 and a beta of 0.98.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings results on Wednesday, May 24th. The company reported $0.48 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.48. The business had revenue of $253.40 million during the quarter, compared to analyst estimates of $251.74 million. Shoe Carnival had a net margin of 2.12% and a return on equity of 7.27%. The business’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. Equities research analysts expect that Shoe Carnival will post $1.41 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently bought and sold shares of SCVL. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Shoe Carnival by 5.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,059 shares of the company’s stock worth $100,000 after buying an additional 200 shares during the last quarter. JPMorgan Chase & Co. increased its position in Shoe Carnival by 482.3% in the first quarter. JPMorgan Chase & Co. now owns 7,558 shares of the company’s stock worth $186,000 after buying an additional 6,260 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in Shoe Carnival during the first quarter worth about $249,000. United Capital Financial Advisers LLC acquired a new position in Shoe Carnival during the first quarter worth about $303,000. Finally, Sanders Morris Harris LLC acquired a new position in Shoe Carnival during the second quarter worth about $280,000. Institutional investors own 64.89% of the company’s stock.

Shoe Carnival Company Profile

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. It also offers online shopping on its e-commerce site at www.shoecarnival.com.

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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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