In a report released today, Mitch Kummetz from Pivotal Research reiterated a Buy rating on Shoe Carnival (SCVL), with a price target of $44.00. The company’s shares closed last Monday at $30.90.
According to TipRanks.com, Kummetz is a 4-star analyst with an average return of 5.7% and a 59.4% success rate. Kummetz covers the Consumer Goods sector, focusing on stocks such as Wolverine World Wide, Columbia Sportswear, and Deckers Outdoor.
Currently, the analyst consensus on Shoe Carnival is a Strong Buy with an average price target of $38.50.
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Based on Shoe Carnival’s latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $147 million and GAAP net loss of $16.19 million. In comparison, last year the company earned revenue of $254 million and had a net profit of $13.87 million.
Based on the recent corporate insider activity of 21 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.
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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.
