Shoe Carnival (SCVL) Receives “Outperform” Rating from Wedbush
Shoe Carnival (NASDAQ:SCVL)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a report released on Thursday, RTT News reports. They currently have a $47.00 price target on the stock. Wedbush’s price target suggests a potential upside of 54.30% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on the company. Pivotal Research restated a “buy” rating and set a $38.00 target price (down previously from $42.00) on shares of Shoe Carnival in a research report on Monday. Sidoti upgraded Shoe Carnival from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. They noted that the move was a valuation call. BidaskClub downgraded Shoe Carnival from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 26th. Zacks Investment Research downgraded Shoe Carnival from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, ValuEngine downgraded Shoe Carnival from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Shoe Carnival currently has an average rating of “Hold” and a consensus price target of $40.80.
Shares of SCVL opened at $30.46 on Thursday. Shoe Carnival has a 52-week low of $25.44 and a 52-week high of $45.00. The firm has a market capitalization of $483.03 million, a price-to-earnings ratio of 12.43 and a beta of 0.76.
In related news, Director Jeffrey C. Gerstel sold 1,200 shares of Shoe Carnival stock in a transaction on Monday, April 15th. The stock was sold at an average price of $36.50, for a total transaction of $43,800.00. Following the completion of the sale, the director now directly owns 5,526 shares of the company’s stock, valued at $201,699. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.60% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of Shoe Carnival during the first quarter worth about $791,000. BlueCrest Capital Management Ltd acquired a new position in shares of Shoe Carnival during the first quarter worth about $638,000. RMB Capital Management LLC acquired a new position in shares of Shoe Carnival during the first quarter worth about $446,000. One Wealth Advisors LLC acquired a new position in shares of Shoe Carnival during the first quarter worth about $244,000. Finally, Man Group plc boosted its position in shares of Shoe Carnival by 77.1% during the first quarter. Man Group plc now owns 118,726 shares of the company’s stock worth $4,040,000 after buying an additional 51,698 shares during the period. 93.50% of the stock is owned by institutional investors and hedge funds.
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, scarves, and wallets.
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