Pivotal Research Believes Shoe Carnival (SCVL) Still Has Room to Grow


In a report released today, Mitch Kummetz from Pivotal Research reiterated a Buy rating on Shoe Carnival (SCVL), with a price target of $64.00. The company’s shares closed last Monday at $55.64, close to its 52-week high of $58.35.

According to TipRanks.com, Kummetz is a 5-star analyst with an average return of 21.8% and a 65.9% success rate. Kummetz covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Columbia Sportswear, and Deckers Outdoor.

Shoe Carnival has an analyst consensus of Moderate Buy, with a price target consensus of $61.50.

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Based on Shoe Carnival’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $275 million and net profit of $14.68 million. In comparison, last year the company earned revenue of $275 million and had a net profit of $13.73 million.

Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SCVL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Shoe Carnival, Inc. engages in the retail of footwear products. It offers casual and athletic footwear for men, women, and children under the Skechers, Clarks, Adidas, Crocs, New Balance, Converse, Roxy, Nike, Vans, Madden Girl, Sperry, Rampage, Keds, PUMA, Timberland, Koolaburra, Jellypop, and ASICS brands. The company was founded in 1978 and is headquartered in Evansville, IN.

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