Shoe Carnival (NASDAQ:SCVL) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other research firms have also recently issued reports on SCVL. TheStreet upgraded shares of Shoe Carnival from a “c” rating to a “b-” rating in a research report on Friday, November 17th. Pivotal Research assumed coverage on shares of Shoe Carnival in a research report on Tuesday, November 21st. They set a “hold” rating and a $28.00 price objective for the company. Jefferies Group set a $22.00 price objective on shares of Shoe Carnival and gave the stock a “hold” rating in a research report on Saturday, November 18th. Sidoti cut shares of Shoe Carnival from a “buy” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded shares of Shoe Carnival from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $24.63.

Shares of Shoe Carnival (NASDAQ SCVL) traded up $0.64 during trading on Wednesday, hitting $25.77. 238,199 shares of the stock were exchanged, compared to its average volume of 460,814. The company has a market cap of $436.85, a P/E ratio of 17.77, a PEG ratio of 1.46 and a beta of 1.06. Shoe Carnival has a 12 month low of $15.07 and a 12 month high of $30.75.

Shoe Carnival (NASDAQ:SCVL) last released its quarterly earnings data on Thursday, November 16th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.08. The business had revenue of $287.47 million during the quarter, compared to analysts’ expectations of $286.90 million. Shoe Carnival had a net margin of 2.17% and a return on equity of 7.81%. equities research analysts forecast that Shoe Carnival will post 1.48 EPS for the current year.

In other Shoe Carnival news, Director Charles B. Tomm purchased 11,190 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was purchased at an average cost of $22.69 per share, for a total transaction of $253,901.10. Following the transaction, the director now owns 16,948 shares in the company, valued at approximately $384,550.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 28.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SCVL. California Public Employees Retirement System increased its position in Shoe Carnival by 5.6% in the 1st quarter. California Public Employees Retirement System now owns 46,800 shares of the company’s stock valued at $1,150,000 after acquiring an additional 2,500 shares during the period. Vanguard Group Inc. increased its position in Shoe Carnival by 4.2% in the 1st quarter. Vanguard Group Inc. now owns 687,504 shares of the company’s stock valued at $16,893,000 after acquiring an additional 27,447 shares during the period. Geode Capital Management LLC increased its position in Shoe Carnival by 7.5% in the 1st quarter. Geode Capital Management LLC now owns 225,430 shares of the company’s stock valued at $5,537,000 after acquiring an additional 15,799 shares during the period. Schwab Charles Investment Management Inc. increased its position in Shoe Carnival by 7.4% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 93,867 shares of the company’s stock valued at $2,307,000 after acquiring an additional 6,488 shares during the period. Finally, Bank of America Corp DE increased its position in Shoe Carnival by 177.7% in the 1st quarter. Bank of America Corp DE now owns 20,916 shares of the company’s stock valued at $514,000 after acquiring an additional 13,384 shares during the period. Hedge funds and other institutional investors own 65.82% of the company’s stock.

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About Shoe Carnival

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.

Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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