Shoe Carnival (NASDAQ:SCVL) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report released on Friday.
SCVL has been the subject of several other research reports. Jefferies Group set a $22.00 price objective on shares of Shoe Carnival and gave the company a “hold” rating in a research report on Saturday, November 18th. TheStreet upgraded shares of Shoe Carnival from a “c” rating to a “b-” rating in a research report on Friday, November 17th. Susquehanna Bancshares reiterated a “buy” rating and set a $28.00 price objective on shares of Shoe Carnival in a research report on Friday, November 17th. Pivotal Research began 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. Finally, Wedbush reiterated a “buy” rating and set a $33.00 price objective (up previously from $27.00) on shares of Shoe Carnival in a research report on Tuesday, December 19th. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $25.86.
Shoe Carnival (NASDAQ SCVL) opened at $23.32 on Friday. Shoe Carnival has a 12-month low of $15.07 and a 12-month high of $28.38. The company has a market cap of $395.32, a price-to-earnings ratio of 16.08, a price-to-earnings-growth ratio of 1.06 and a beta of 0.91.
Shoe Carnival announced that its board has initiated a stock buyback program on Tuesday, December 19th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Shoe Carnival by 3.6% in the 4th quarter. BlackRock Inc. now owns 1,534,621 shares of the company’s stock worth $41,052,000 after acquiring an additional 53,961 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Shoe Carnival by 17.8% in the 2nd quarter. Northern Trust Corp now owns 673,302 shares of the company’s stock worth $14,059,000 after acquiring an additional 101,530 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Shoe Carnival by 33.6% in the 4th quarter. LSV Asset Management now owns 588,186 shares of the company’s stock worth $15,733,000 after acquiring an additional 147,800 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Shoe Carnival in the 4th quarter worth about $6,858,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Shoe Carnival in the 4th quarter worth about $5,637,000. Hedge funds and other institutional investors own 67.39% of the company’s stock.
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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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