Shoe Carnival (NASDAQ:SHOE) Raised to “Hold” at Zacks Research

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

Several other brokerages have also recently commented on SHOE. Wall Street Zen cut shares of Shoe Carnival from a “hold” rating to a “sell” rating in a research note on Sunday. Weiss Ratings upgraded Shoe Carnival from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Shoe Carnival Stock Performance

Shares of NASDAQ:SHOE opened at $14.51 on Tuesday. Shoe Carnival has a 52-week low of $10.20 and a 52-week high of $21.61. The stock has a market capitalization of $394.38 million, a PE ratio of 16.49 and a beta of 1.36. The business has a 50-day moving average price of $13.60.

Shoe Carnival (NASDAQ:SHOE) last issued its earnings results on Thursday, September 10th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $299.19 million. During the same quarter in the prior year, the company earned $0.70 EPS. Shoe Carnival’s quarterly revenue was down 7.2% on a year-over-year basis. Shoe Carnival has set its FY 2026 guidance at 0.750-0.900 EPS. Research analysts expect that Shoe Carnival will post 0.85 EPS for the current fiscal year.

Institutional Trading of Shoe Carnival

Several hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC raised its position in shares of Shoe Carnival by 26,100.0% during the 3rd quarter. Global Retirement Partners LLC now owns 5,240 shares of the company’s stock valued at $67,000 after buying an additional 5,220 shares during the period. Parallel Advisors LLC lifted its stake in shares of Shoe Carnival by 2,494.6% in the 3rd quarter. Parallel Advisors LLC now owns 2,880 shares of the company’s stock valued at $37,000 after purchasing an additional 2,769 shares during the last quarter. State of Wyoming grew its holdings in shares of Shoe Carnival by 125.1% during the 3rd quarter. State of Wyoming now owns 9,285 shares of the company’s stock worth $119,000 after purchasing an additional 5,160 shares during the period. North Star Investment Management Corp. grew its holdings in shares of Shoe Carnival by 22.6% during the 3rd quarter. North Star Investment Management Corp. now owns 135,000 shares of the company’s stock worth $1,727,000 after purchasing an additional 24,925 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of Shoe Carnival by 225.3% during the 3rd quarter. Signaturefd LLC now owns 7,657 shares of the company’s stock worth $98,000 after purchasing an additional 5,303 shares during the period. Hedge funds and other institutional investors own 66.05% of the company’s stock.

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.