Sterne Agee CRT Reduces Estimates on Shoe Carnival (SCVL) Ahead of 3Q; Maintains Buy
Get Alerts SCVL Hot Sheet
Rating Summary:
5 Buy, 5 Hold, 0 Sell
Rating Trend: Up
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
Join SI Premium – FREE
Sterne Agee CRT maintained a Buy rating on Shoe Carnival (NASDAQ: SCVL), and cut the price target to $26.00 (from $32.00), ahead of the company's 3Q earnings report. Warm weather, elevated inventory levels and increased promotions in the moderate channel lead to reduced estimates.
Analyst Sam Poser commented, "Warm weather, elevated inventory levels and increased promotions in the moderate channel lead us to reduce estimates. Such headwinds are baked in, as SCVL stock has dropped ~30% in the last 3 months. While the warm weather has helped SCVL's large athletic business, it also likely resulted in lost boot sales, which carry higher ASPs and margins. Longer term, we continue to like the steps that SCVL is taking to improve. SCVL is increasing the reach of its loyalty program through the ongoing rollout of e-commerce & mobile commerce platforms, national advertising, and expansion of branded women's assortments to additional doors. The loyalty program has, and will continue to drive improving conversions, and higher sales and margins."
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 $19.00 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) PT Raised to $136 at Deutsche Bank
- Vertiv Holdings Co. (VRT) PT Raised to $98 at Oppenheimer
- Chipotle Mexican Grill (CMG) PT Raised to $3,350 at BTIG
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst PT ChangeRelated Entities
Sterne Agee, Earnings, Sam PoserSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!