Zacks Research Upgrades Shoe Carnival (NASDAQ:SHOE) to Hold

Shoe Carnival (NASDAQ:SHOE) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks reports.

Other analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Shoe Carnival from a “hold” rating to a “sell” rating in a research report on Sunday. Weiss Ratings upgraded shares of Shoe Carnival from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Shoe Carnival presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Shoe Carnival Stock Down 0.4%

Shares of NASDAQ SHOE opened at $14.51 on Tuesday. The firm has a market cap of $394.38 million, a PE ratio of 16.49 and a beta of 1.36. Shoe Carnival has a 12 month low of $10.20 and a 12 month high of $21.61. The stock’s 50 day moving average price is $13.60.

Shoe Carnival (NASDAQ:SHOE) last posted its earnings results on Thursday, September 10th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.11). Shoe Carnival had a net margin of 2.20% and a return on equity of 5.32%. The firm had revenue of $284.31 million for the quarter, compared to analysts’ expectations of $299.19 million. During the same period last year, the firm earned $0.70 earnings per share. Shoe Carnival’s revenue for the quarter was down 7.2% compared to the same quarter last year. Shoe Carnival has set its FY 2026 guidance at 0.750-0.900 EPS. On average, equities analysts forecast that Shoe Carnival will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Shoe Carnival during the 2nd quarter valued at approximately $29,007,000. Dimensional Fund Advisors LP grew its stake in Shoe Carnival by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,651,332 shares of the company’s stock valued at $25,744,000 after acquiring an additional 44,759 shares during the period. State Street Corp purchased a new stake in Shoe Carnival in the 2nd quarter worth $6,373,000. Sei Investments Co. increased its holdings in Shoe Carnival by 69.7% in the 1st quarter. Sei Investments Co. now owns 155,660 shares of the company’s stock worth $2,427,000 after acquiring an additional 63,912 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in Shoe Carnival by 17.9% in the 1st quarter. Empowered Funds LLC now owns 143,254 shares of the company’s stock worth $2,233,000 after acquiring an additional 21,714 shares in the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.

About Shoe Carnival

Shoe Carnival, Inc. is a U.S. family footwear retailer that sells shoes and related accessories through its stores and e-commerce websites. Its merchandise includes athletic, casual and dress footwear for adults and children, along with select apparel and accessories. The company operates under the Shoe Carnival and Shoe Station brands. Its stores serve customers across multiple regions of the United States, and its online channels extend its reach beyond its physical locations. Founded in 1978, Shoe Carnival is headquartered in Fort Mill, South Carolina.