Can Shoe Carnival, Inc. (SCVL)’s Tomorrow be Different? The Stock Formed a Bearish Double Bottom

July 17, 2017 - By Ellis Scott

Investors sentiment decreased to 1 in Q4 2016. Its down 0.49, from 1.49 in 2016Q3. It dived, as 6 investors sold Shoe Carnival, Inc. shares while 41 reduced holdings. 21 funds opened positions while 26 raised stakes. 11.81 million shares or 5.22% less from 12.46 million shares in 2016Q3 were reported.
Us Commercial Bank De reported 743 shares. Bnp Paribas Arbitrage holds 0% or 2,139 shares. Zurcher Kantonalbank (Zurich Cantonalbank) has invested 0% of its portfolio in Shoe Carnival, Inc. (NASDAQ:SCVL). Moreover, Blackrock Institutional Trust Na has 0% invested in Shoe Carnival, Inc. (NASDAQ:SCVL) for 371,566 shares. Prelude Capital Ltd Liability Corp holds 968 shares. Archon Capital Ltd Liability Corporation holds 6,895 shares. Walleye Trading Ltd Liability Corp invested in 500 shares or 0% of the stock. Blackrock Fund Advisors, a California-based fund reported 1.11M shares. Blackrock Invest Management Ltd Co stated it has 0% of its portfolio in Shoe Carnival, Inc. (NASDAQ:SCVL). Mason Street Advsrs Ltd Liability Corp holds 2,898 shares. The United Kingdom-based Blackrock Group Ltd has invested 0% in Shoe Carnival, Inc. (NASDAQ:SCVL). Bancorp Of Montreal Can accumulated 0% or 64 shares. Swiss Bankshares invested 0% in Shoe Carnival, Inc. (NASDAQ:SCVL). Alexandria Cap Lc accumulated 1,735 shares or 0.01% of the stock. Panagora Asset Mngmt stated it has 61,754 shares or 0.01% of all its holdings.

The chart of Shoe Carnival, Inc. (SCVL) shows a double bottom with $18.36 target or 4.00 % below today’s $19.13 share price. The 9 months chart pattern indicates high risk for the $322.88 million company. It was reported on Jul, 17 by Finviz.com. If the $18.36 price target is reached, the company will be worth $12.92 million less. Double bottoms are rare but powerful chart patterns.

It closed at $19.13 lastly. It is down 13.98% since July 17, 2016 and is downtrending. It has underperformed by 30.68% the S&P500.

Shoe Carnival, Inc. (NASDAQ:SCVL) Ratings Coverage

Among 7 analysts covering Shoe Carnival (NASDAQ:SCVL), 3 have Buy rating, 0 Sell and 4 Hold. Therefore 43% are positive. Shoe Carnival had 12 analyst reports since August 18, 2015 according to SRatingsIntel. The firm has “Buy” rating by Zacks given on Tuesday, August 18. The stock of Shoe Carnival, Inc. (NASDAQ:SCVL) earned “Buy” rating by Standpoint Research on Friday, December 11. Jefferies maintained Shoe Carnival, Inc. (NASDAQ:SCVL) on Thursday, September 1 with “Hold” rating. Mizuho initiated the shares of SCVL in report on Thursday, December 15 with “Neutral” rating. The stock has “Neutral” rating by Susquehanna on Thursday, November 12. The rating was maintained by Mizuho with “Neutral” on Tuesday, January 10. Sidoti upgraded the stock to “Buy” rating in Wednesday, June 28 report. The firm has “Buy” rating by Zacks given on Friday, September 4. As per Friday, May 20, the company rating was maintained by Sterne Agee CRT. The stock of Shoe Carnival, Inc. (NASDAQ:SCVL) earned “Neutral” rating by Sidoti on Tuesday, June 7.

More notable recent Shoe Carnival, Inc. (NASDAQ:SCVL) news were published by: Footwearnews.com which released: “Profits for Popular Shoe Retailers Journeys & Shoe Carnival Are Tumbling …” on May 25, 2017, also Finance.Yahoo.com with their article: “Shoe Carnival Updates Full Fiscal Year 2016 Financial Guidance” published on January 09, 2017, Seekingalpha.com published: “Shoe Carnival: Bias Is To The Downside” on September 19, 2016. More interesting news about Shoe Carnival, Inc. (NASDAQ:SCVL) were released by: Seekingalpha.com and their article: “Shoe Carnival’s Horrible Q3 Is An Opportunity” published on December 17, 2016 as well as Seekingalpha.com‘s news article titled: “Shoe Carnival’s (SCVL) CEO Cliff Sifford on Q4 2016 Results – Earnings Call …” with publication date: March 24, 2017.

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