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.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings data on Wednesday, May 22nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.06). Shoe Carnival had a net margin of 3.70% and a return on equity of 12.42%. The business had revenue of $253.80 million during the quarter, compared to the consensus estimate of $259.24 million. During the same quarter in the previous year, the firm posted $0.83 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that Shoe Carnival will post 2.67 earnings per share for the current year.

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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Analyst Recommendations for Shoe Carnival (NASDAQ:SCVL)

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