Pivotal Research Trims Shoe Carnival (NASDAQ:SCVL) Target Price to $20.00

Shoe Carnival (NASDAQ:SCVL) had its price target trimmed by Pivotal Research from $43.00 to $20.00 in a report issued on Monday morning, Briefing.com Automated Import reports. They currently have a buy rating on the stock.

SCVL has been the subject of a number of other reports. ValuEngine lowered Shoe Carnival from a hold rating to a sell rating in a report on Tuesday, March 17th. Sidoti cut their price target on Shoe Carnival from $48.00 to $31.00 and set a buy rating for the company in a report on Friday, March 20th. Zacks Investment Research lowered Shoe Carnival from a buy rating to a hold rating in a report on Thursday, January 23rd. BidaskClub cut Shoe Carnival from a sell rating to a strong sell rating in a research report on Thursday, March 5th. Finally, Susquehanna Bancshares restated a buy rating and set a $18.00 price objective (down from $47.00) on shares of Shoe Carnival in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $28.60.

Shares of SCVL stock traded up $4.98 during trading hours on Monday, reaching $24.99. 479,300 shares of the company’s stock were exchanged, compared to its average volume of 194,910. Shoe Carnival has a fifty-two week low of $12.56 and a fifty-two week high of $40.00. The stock has a market capitalization of $284.86 million, a P/E ratio of 9.12 and a beta of 0.93. The business has a fifty day moving average price of $28.75 and a 200-day moving average price of $33.65. The company has a quick ratio of 0.36, a current ratio of 2.64 and a debt-to-equity ratio of 0.67.

Shoe Carnival (NASDAQ:SCVL) last issued its quarterly earnings results on Wednesday, March 25th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. Shoe Carnival had a return on equity of 12.96% and a net margin of 3.96%. The company had revenue of $239.88 million during the quarter, compared to analyst estimates of $237.97 million. During the same period in the previous year, the company earned $0.09 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect that Shoe Carnival will post 2.75 EPS for the current fiscal year.

In other news, Director Kent A. Kleeberger sold 1,620 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $36.96, for a total transaction of $59,875.20. Following the sale, the director now directly owns 13,434 shares in the company, valued at $496,520.64. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 23.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. California Public Employees Retirement System grew its position in Shoe Carnival by 9.1% in the third quarter. California Public Employees Retirement System now owns 31,830 shares of the company’s stock valued at $1,032,000 after acquiring an additional 2,650 shares during the period. First Trust Advisors LP grew its position in Shoe Carnival by 19.1% in the third quarter. First Trust Advisors LP now owns 20,996 shares of the company’s stock valued at $680,000 after acquiring an additional 3,373 shares during the period. Tower Research Capital LLC TRC bought a new stake in Shoe Carnival in the third quarter valued at $119,000. Voya Investment Management LLC grew its position in Shoe Carnival by 978.1% in the third quarter. Voya Investment Management LLC now owns 225,801 shares of the company’s stock valued at $7,318,000 after acquiring an additional 204,856 shares during the period. Finally, Maverick Capital Ltd. bought a new stake in Shoe Carnival in the third quarter valued at $1,022,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

About Shoe Carnival

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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