Zacks Research Downgrades Shoe Carnival (NASDAQ:SCVL) to Hold

Shoe Carnival (NASDAQ:SCVL) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also commented on SCVL. Seaport Res Ptn lowered shares of Shoe Carnival from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Wall Street Zen raised shares of Shoe Carnival from a “sell” rating to a “hold” rating in a research note on Friday, September 26th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Shoe Carnival in a research note on Tuesday. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Shoe Carnival Price Performance

NASDAQ SCVL opened at $16.75 on Tuesday. The company has a market cap of $458.50 million, a price-to-earnings ratio of 7.38 and a beta of 1.35. The stock’s fifty day moving average price is $19.16 and its 200 day moving average price is $20.20. Shoe Carnival has a 1 year low of $15.21 and a 1 year high of $36.94.

Shoe Carnival (NASDAQ:SCVL) last posted its quarterly earnings results on Thursday, November 20th. The company reported $0.53 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.53. The company had revenue of $297.16 million during the quarter, compared to analyst estimates of $295.25 million. Shoe Carnival had a net margin of 5.41% and a return on equity of 9.65%. Shoe Carnival’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $0.71 EPS. Shoe Carnival has set its FY 2025 guidance at 1.800-2.100 EPS. Research analysts expect that Shoe Carnival will post 2.6 earnings per share for the current year.

Insider Buying and Selling at Shoe Carnival

In other Shoe Carnival news, Director Andrea R. Guthrie sold 2,477 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $20.20, for a total value of $50,035.40. Following the transaction, the director directly owned 24,405 shares in the company, valued at $492,981. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 35.50% of the company’s stock.

Institutional Investors Weigh In On Shoe Carnival

A number of institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its position in shares of Shoe Carnival by 99.6% in the 1st quarter. Voya Investment Management LLC now owns 20,547 shares of the company’s stock valued at $452,000 after purchasing an additional 10,251 shares during the period. Exchange Traded Concepts LLC lifted its stake in Shoe Carnival by 31.8% during the second quarter. Exchange Traded Concepts LLC now owns 63,123 shares of the company’s stock valued at $1,181,000 after buying an additional 15,241 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Shoe Carnival by 8.5% in the first quarter. Northern Trust Corp now owns 550,844 shares of the company’s stock worth $12,113,000 after buying an additional 43,183 shares during the period. Copeland Capital Management LLC increased its position in shares of Shoe Carnival by 22.8% in the second quarter. Copeland Capital Management LLC now owns 1,718,101 shares of the company’s stock worth $32,146,000 after acquiring an additional 318,771 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Shoe Carnival by 74.6% during the first quarter. Victory Capital Management Inc. now owns 59,947 shares of the company’s stock valued at $1,318,000 after acquiring an additional 25,617 shares during the period. 66.05% of the stock is currently 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 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.