Jefferies Raises Price Target on Shoe Carnival (SCVL) to $29 Following Solid 2Q

September 1, 2016 8:53 AM EDT
Get Alerts SCVL Hot Sheet
Price: $25.94 +0.78%

Rating Summary:
    1 Buy, 7 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 26 | Down: 29 | New: 38
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Jefferies reiterated a Hold rating on Shoe Carnival (NASDAQ: SCVL), and raised the price target to $29.00 (from $24.00), following the company's 2Q earnings report. SCVL reported EPS of $0.22, below the Street of $0.27, driven by a lighter comp of 0.5% vs. the Street 1.8%.

Analyst Randal Konik commented, "2Q reflected mixed category performance, with a resurgence in sandals offset by a slowdown in adult athletic. Similar to what we have heard from others, mgmt cited a later start to BTS; while we are encouraged by the improvement in trend QTD, this creates an inherent lack of visibility. We continue to see oppty in 2H (esp. 4Q), but believe guidance and valuation already capture much of this improvement. Maintain Hold, PT to $29."

For an analyst ratings summary and ratings history on Shoe Carnival click here. For more ratings news on Shoe Carnival click here.

Shares of Shoe Carnival closed at $29.66 yesterday.

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