Shoe Carnival (SCVL) Cut to Hold at ValuEngine
ValuEngine lowered shares of Shoe Carnival (NASDAQ:SCVL) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.
Several other research firms also recently commented on SCVL. Pivotal Research downgraded shares of Shoe Carnival from a buy rating to a hold rating and increased their target price for the stock from $43.00 to $45.00 in a research report on Tuesday, September 4th. Zacks Investment Research downgraded Shoe Carnival from a strong-buy rating to a hold rating in a research report on Wednesday, October 31st. BidaskClub downgraded Shoe Carnival from a strong-buy rating to a buy rating in a research report on Friday, September 28th. Finally, Wedbush cut their price target on shares of Shoe Carnival from $47.00 to $45.00 and set an outperform rating for the company in a research note on Friday, November 16th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and an average price target of $38.60.
Shares of SCVL traded down $0.19 during mid-day trading on Thursday, reaching $36.08. The company’s stock had a trading volume of 13,887 shares, compared to its average volume of 462,986. The firm has a market capitalization of $587.25 million, a P/E ratio of 24.21 and a beta of 0.73. Shoe Carnival has a 1 year low of $21.01 and a 1 year high of $45.00.
In other Shoe Carnival news, Director Kent A. Kleeberger sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $36.77, for a total transaction of $55,155.00. Following the completion of the transaction, the director now owns 14,960 shares in the company, valued at $550,079.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 22.70% of the stock is owned by company insiders.
Large investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in shares of Shoe Carnival in the second quarter valued at approximately $125,000. Itau Unibanco Holding S.A. bought a new position in shares of Shoe Carnival in the second quarter valued at approximately $141,000. Pacer Advisors Inc. bought a new position in shares of Shoe Carnival in the third quarter valued at approximately $157,000. Bank of Montreal Can raised its stake in shares of Shoe Carnival by 9,179.7% in the second quarter. Bank of Montreal Can now owns 5,939 shares of the company’s stock valued at $192,000 after acquiring an additional 5,875 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Shoe Carnival by 311.6% in the third quarter. Harvest Fund Management Co. Ltd now owns 5,754 shares of the company’s stock valued at $222,000 after acquiring an additional 4,356 shares during the last quarter. Institutional investors own 81.61% of the company’s stock.
Shoe Carnival Company Profile
Shoe Carnival, Inc, together with its subsidiaries, operates as a family footwear retailer in the United States. The company offers various dress, casual, and athletic footwear products for men, women, and children; and accessories, such as socks, belts, shoe care items, handbags, sport bags, backpacks, jewelry, scarves, and wallets.
Further Reading: Buyback
To view ValuEngine’s full report, visit ValuEngine’s official website.
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