The stock of Shoe Carnival, Inc. (NASDAQ:SCVL) hit a new 52-week high and has $34.12 target or 9.00% above today’s $31.30 share price. The 9 months bullish chart indicates low risk for the $618.60 million company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $34.12 price target is reached, the company will be worth $55.67 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 39,467 shares traded hands. Shoe Carnival, Inc. (NASDAQ:SCVL) has risen 19.17% since April 21, 2016 and is uptrending. It has outperformed by 13.84% the S&P500.
Analysts await Shoe Carnival, Inc. (NASDAQ:SCVL) to report earnings on November, 28 after the close. They expect $0.54 EPS, up 14.89% or $0.07 from last year’s $0.47 per share. SCVL’s profit will be $10.67 million for 14.49 P/E if the $0.54 EPS becomes a reality. After $0.22 actual EPS reported by Shoe Carnival, Inc. for the previous quarter, Wall Street now forecasts 145.45% EPS growth.
Shoe Carnival, Inc. (NASDAQ:SCVL) Ratings Coverage
Out of 6 analysts covering Shoe Carnival (NASDAQ:SCVL), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Shoe Carnival has been the topic of 9 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Friday, May 20 by Sterne Agee CRT. As per Tuesday, June 7, the company rating was initiated by Sidoti. Standpoint Research downgraded Shoe Carnival, Inc. (NASDAQ:SCVL) on Wednesday, March 30 to “Hold” rating. The stock of Shoe Carnival, Inc. (NASDAQ:SCVL) earned “Buy” rating by Zacks on Tuesday, August 18. On Thursday, September 1 the stock rating was maintained by Jefferies with “Hold”. Standpoint Research upgraded Shoe Carnival, Inc. (NASDAQ:SCVL) on Friday, December 11 to “Buy” rating. As per Friday, September 4, the company rating was upgraded by Zacks. Susquehanna maintained Shoe Carnival, Inc. (NASDAQ:SCVL) rating on Thursday, November 12. Susquehanna has “Neutral” rating and $36 price target.
According to Zacks Investment Research, “Shoe Carnival, Inc. is a high volume, value-oriented retailer of family footwear. They adhere to a highly promotional marketing concept that enables them to be competitive in the retail markets they enter. They provide a selection and variety of footwear normally associated with a category killer superstore in an exciting retail environment.”
Insitutional Activity: The institutional sentiment increased to 1.49 in 2016 Q2. Its up 0.83, from 0.66 in 2016Q1. The ratio is positive, as 13 funds sold all Shoe Carnival, Inc. shares owned while 40 reduced positions. 7 funds bought stakes while 28 increased positions. They now own 12.06 million shares or 3.95% less from 12.55 million shares in 2016Q1.
Jpmorgan Chase And Company last reported 0% of its portfolio in the stock. Northern Trust owns 549,660 shares or 0% of their US portfolio. The Switzerland-based Swiss State Bank has invested 0% in Shoe Carnival, Inc. (NASDAQ:SCVL). Archon Capital Mngmt Ltd Com has 4.12% invested in the company for 136,648 shares. Ladenburg Thalmann Svcs holds 0% or 2 shares in its portfolio. Invesco last reported 14,759 shares in the company. The United Kingdom-based Barclays Public Limited Company has invested 0% in Shoe Carnival, Inc. (NASDAQ:SCVL). Diam Company last reported 0% of its portfolio in the stock. Malaga Cove Ltd Llc has invested 0.87% of its portfolio in Shoe Carnival, Inc. (NASDAQ:SCVL). Bancorporation Of Mellon Corp reported 99,016 shares or 0% of all its holdings. Blackrock has invested 0% of its portfolio in Shoe Carnival, Inc. (NASDAQ:SCVL). Bancorporation Of America De has 0% invested in the company for 3,931 shares. The New York-based Tiaa Cref Investment Mgmt Limited Liability Corporation has invested 0% in Shoe Carnival, Inc. (NASDAQ:SCVL). Hodges Cap Management Inc owns 1.21M shares or 1.47% of their US portfolio. Allianz Asset Mgmt Ag has 194,681 shares for 0% of their US portfolio.
SCVL Company Profile
Shoe Carnival, Inc., incorporated on April 3, 1996, is a family footwear retailer. The Company’s primary activity is the sale of footwear and related products through its retail stores in approximately 30 states within the continental United States and in Puerto Rico. The Company’s products assortment includes dress and casual shoes, sandals, boots and an assortment of athletic footwear for men, women and children. The Company’s stores also carry accessories, such as socks, belts, shoe care items, handbags, jewelry, scarves and wallets. It classifies athletic shoes by functionality, such as running, basketball or fitness shoes. The Company’s average store carries approximately 27,100 pairs of shoes in over four general categories: women’s, men’s, children’s and athletics.
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