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

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. “

SCVL has been the subject of several other research reports. Susquehanna Bancshares Inc reissued a “hold” rating and issued a $18.00 target price on shares of Shoe Carnival in a research note on Monday, August 28th. Jefferies Group LLC reaffirmed a “hold” rating and set a $20.00 price objective (down previously from $21.00) on shares of Shoe Carnival in a research note on Thursday, August 31st. ValuEngine downgraded shares of Shoe Carnival from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. TheStreet downgraded shares of Shoe Carnival from a “b-” rating to a “c+” rating in a research note on Tuesday, May 23rd. Finally, BidaskClub downgraded shares of Shoe Carnival from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $21.43.

Shares of Shoe Carnival (NASDAQ:SCVL) traded down 2.52% during midday trading on Friday, hitting $18.16. 144,053 shares of the company were exchanged. The stock has a market capitalization of $313.39 million, a price-to-earnings ratio of 15.44 and a beta of 0.93. Shoe Carnival has a 52-week low of $15.08 and a 52-week high of $31.79. The company has a 50-day moving average price of $17.51 and a 200-day moving average price of $21.34.

Shoe Carnival (NASDAQ:SCVL) last announced its earnings results on Wednesday, August 30th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Shoe Carnival had a net margin of 2.09% and a return on equity of 7.37%. The firm had revenue of $235.10 million during the quarter, compared to the consensus estimate of $232.26 million. During the same quarter in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was up 1.4% on a year-over-year basis. On average, analysts forecast that Shoe Carnival will post $1.43 EPS for the current year.

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Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in shares of Shoe Carnival during the 2nd quarter valued at about $175,000. Goldman Sachs Group Inc. grew its holdings in shares of Shoe Carnival by 140.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 33,355 shares of the company’s stock worth $697,000 after purchasing an additional 19,501 shares during the period. Petrus Trust Company LTA purchased a new stake in shares of Shoe Carnival during the 2nd quarter worth about $352,000. OxFORD Asset Management LLP purchased a new stake in shares of Shoe Carnival during the 2nd quarter worth about $539,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Shoe Carnival during the 2nd quarter worth about $1,233,000. 61.90% of the stock is owned by institutional investors.

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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