Shoe Carnival (NASDAQ:SCVL) PT Lowered to $45.00 at Wedbush
Shoe Carnival (NASDAQ:SCVL) had its price target lowered by Wedbush from $47.00 to $45.00 in a research note issued on Friday, November 16th. The brokerage currently has an “outperform” rating on the stock. Wedbush’s target price suggests a potential upside of 28.31% from the company’s current price. Wedbush also issued estimates for Shoe Carnival’s FY2019 earnings at $2.38 EPS and FY2020 earnings at $2.63 EPS.
Other equities analysts have also issued reports about the stock. Susquehanna Bancshares reiterated a “neutral” rating on shares of Shoe Carnival in a research report on Thursday, July 19th. Zacks Investment Research lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 31st. BidaskClub upgraded shares of Shoe Carnival from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 16th. Finally, Pivotal Research set a $39.00 price objective on shares of Shoe Carnival and gave the company a “buy” rating in a research report on Monday, August 27th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Shoe Carnival presently has a consensus rating of “Buy” and a consensus target price of $38.60.
SCVL stock traded down $1.20 during midday trading on Friday, reaching $35.07. 417,064 shares of the company were exchanged, compared to its average volume of 461,663. Shoe Carnival has a 1-year low of $21.01 and a 1-year high of $45.00. The stock has a market cap of $583.55 million, a P/E ratio of 23.54 and a beta of 0.73.
In other Shoe Carnival news, Director Kent A. Kleeberger sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 21st. The shares were sold at an average price of $36.77, for a total transaction of $55,155.00. Following the sale, the director now directly owns 14,960 shares in the company, valued at approximately $550,079.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 22.70% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Wells Fargo & Company MN raised its stake in shares of Shoe Carnival by 7.4% during the 3rd quarter. Wells Fargo & Company MN now owns 18,701 shares of the company’s stock worth $719,000 after buying an additional 1,289 shares during the last quarter. Stone Ridge Asset Management LLC raised its stake in shares of Shoe Carnival by 5.3% during the 3rd quarter. Stone Ridge Asset Management LLC now owns 34,944 shares of the company’s stock worth $1,345,000 after buying an additional 1,765 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Shoe Carnival by 51.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 6,242 shares of the company’s stock worth $240,000 after buying an additional 2,128 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Shoe Carnival by 95.1% during the 3rd quarter. Quantbot Technologies LP now owns 6,245 shares of the company’s stock worth $240,000 after buying an additional 3,044 shares during the last quarter. Finally, Mackay Shields LLC raised its stake in shares of Shoe Carnival by 5.9% during the 2nd quarter. Mackay Shields LLC now owns 57,200 shares of the company’s stock worth $1,856,000 after buying an additional 3,200 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.
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