Shoe Carnival (NASDAQ:SCVL) Raised to “Strong-Buy” at Zacks Research

Shoe Carnival (NASDAQ:SCVL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

SCVL has been the subject of several other research reports. Williams Trading set a $22.00 price target on Shoe Carnival in a research note on Thursday, February 26th. Weiss Ratings reissued a “hold (c-)” rating on shares of Shoe Carnival in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $22.00.

Shoe Carnival Price Performance

NASDAQ:SCVL opened at $16.66 on Thursday. Shoe Carnival has a fifty-two week low of $14.91 and a fifty-two week high of $26.57. The stock’s 50-day moving average is $17.30 and its two-hundred day moving average is $18.12. The stock has a market cap of $457.82 million, a PE ratio of 12.34 and a beta of 1.44.

Shoe Carnival (NASDAQ:SCVL) last announced its quarterly earnings results on Thursday, May 21st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $270.73 million during the quarter, compared to analysts’ expectations of $268.73 million. Shoe Carnival had a return on equity of 7.24% and a net margin of 3.31%.The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS. On average, equities research analysts anticipate that Shoe Carnival will post 1.5 earnings per share for the current year.

Insider Activity at Shoe Carnival

In other news, CFO W Kerry Jackson purchased 31,000 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was acquired at an average price of $16.13 per share, with a total value of $500,030.00. Following the purchase, the chief financial officer owned 215,529 shares in the company, valued at $3,476,482.77. This represents a 16.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 33.60% of the company’s stock.

Institutional Investors Weigh In On Shoe Carnival

Several institutional investors and hedge funds have recently added to or reduced their stakes in SCVL. Royal Bank of Canada lifted its holdings in Shoe Carnival by 13.0% in the 1st quarter. Royal Bank of Canada now owns 80,923 shares of the company’s stock worth $1,779,000 after purchasing an additional 9,298 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Shoe Carnival by 367.2% in the 1st quarter. AQR Capital Management LLC now owns 52,303 shares of the company’s stock worth $1,150,000 after purchasing an additional 41,108 shares during the last quarter. Millennium Management LLC lifted its holdings in Shoe Carnival by 215.9% in the 1st quarter. Millennium Management LLC now owns 321,764 shares of the company’s stock worth $7,076,000 after purchasing an additional 219,918 shares during the last quarter. Empowered Funds LLC lifted its holdings in Shoe Carnival by 3.0% in the 1st quarter. Empowered Funds LLC now owns 140,151 shares of the company’s stock worth $3,082,000 after purchasing an additional 4,108 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in Shoe Carnival by 4.5% in the 2nd quarter. Legal & General Group Plc now owns 46,758 shares of the company’s stock worth $875,000 after purchasing an additional 1,998 shares during the last quarter. 66.05% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Shoe Carnival

Here are the key news stories impacting Shoe Carnival this week:

• Positive Sentiment: Shoe Carnival posted first-quarter EPS of $0.23, beating the $0.20 consensus, and revenue of $270.7 million also topped estimates. Conference Call / Earnings Report
• Positive Sentiment: Management highlighted improving sales trends, including a 2.2% decline in Shoe Carnival banner sales, which was better than prior fiscal 2025 trends and suggests some stabilization in the business. Q1 2026 Results
• Positive Sentiment: Several market commentaries pointed to the stock’s attractive valuation, with one noting the shares trade at a single-digit earnings multiple ex-cash, which may appeal to value investors if the turnaround continues. Valuation Commentary
• Neutral Sentiment: Despite the beat, revenue still declined 2.5% year over year and EPS was below last year’s $0.34, underscoring that the recovery is still early.
• Negative Sentiment: Some analysts warned the stock could remain volatile because the business is still working through broader retail headwinds and the shares may be vulnerable if momentum fades.

About Shoe Carnival

Shoe Carnival, Inc (NASDAQ: SCVL) is a U.S.-based specialty retailer offering a broad assortment of footwear, apparel and accessories for the entire family. Through its network of brick-and-mortar stores and e-commerce platform, the company provides casual, athletic and dress shoes for men, women and children, as well as complementary apparel, handbags, socks and other accessories designed to deliver value and variety. Its distinctive in-store carnival host service model aims to create an engaging shopping experience and foster customer loyalty.

Founded in 1978 and headquartered in Evansville, Indiana, Shoe Carnival has expanded over four decades to operate more than 350 retail locations across over 30 states.