Shoe Carnival (NASDAQ:SCVL) Upgraded by StockNews.com to "Hold" Rating

Shoe Carnival (NASDAQ:SCVL - Get Free Report) was upgraded by stock analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Saturday.

Separately, Williams Trading raised their target price on Shoe Carnival from $42.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, August 29th.

Shoe Carnival Stock Up 0.4 %

Shares of Shoe Carnival stock traded up $0.15 during midday trading on Friday, hitting $33.76. The company's stock had a trading volume of 250,163 shares, compared to its average volume of 250,401. Shoe Carnival has a 1-year low of $24.07 and a 1-year high of $46.92. The firm has a market capitalization of $917.39 million, a P/E ratio of 12.41 and a beta of 1.56. The company has a quick ratio of 0.89, a current ratio of 3.88 and a debt-to-equity ratio of 0.50. The stock has a 50-day simple moving average of $37.74 and a 200-day simple moving average of $38.61.

Shoe Carnival (NASDAQ:SCVL - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. The business had revenue of $332.70 million during the quarter, compared to analyst estimates of $331.45 million. Shoe Carnival had a net margin of 6.12% and a return on equity of 12.52%. Shoe Carnival's quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. As a group, sell-side analysts expect that Shoe Carnival will post 2.6 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC increased its holdings in Shoe Carnival by 8.7% during the 3rd quarter. FMR LLC now owns 4,266 shares of the company's stock valued at $187,000 after purchasing an additional 343 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Shoe Carnival by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 56,711 shares of the company's stock worth $2,092,000 after purchasing an additional 394 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Shoe Carnival by 1.3% during the 2nd quarter. SummerHaven Investment Management LLC now owns 31,550 shares of the company's stock worth $1,164,000 after buying an additional 402 shares during the period. Sei Investments Co. grew its holdings in Shoe Carnival by 1.1% during the second quarter. Sei Investments Co. now owns 52,816 shares of the company's stock valued at $1,948,000 after purchasing an additional 595 shares during the period. Finally, Foundry Partners LLC grew its holdings in shares of Shoe Carnival by 0.6% in the 3rd quarter. Foundry Partners LLC now owns 149,735 shares of the company's stock valued at $6,566,000 after buying an additional 940 shares during the period. Institutional investors own 66.05% 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 range of dress, casual, work, and athletic shoes, as well as sandals and boots for men, women, and children; and various accessories. The company also operates stores, and sells its products through online shopping at shoecarnival.com, as well as through mobile app.