Shoe Carnival, Inc. (NASDAQ: SCVL) shares fell in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
U.S. stocks flipped between small losses and gains early Tuesday morning as investors maintained a cautious stance following a sharp postelection rally.
The S&P 500 index SPX, -0.04% was off by about 1 point, or less than 0.1%, at 2,267, with seven of the 11 main sectors trading lower. The Dow Jones Industrial Average DJIA, -0.13% was off 33 points, or 0.2%, to 19,853.
Meanwhile, the Nasdaq Composite Index COMP, +0.05% traded in record territory, after closing at an all-time high for the second session in a row on Monday.
Susquehanna analysts reiterated its Hold rating on Shoe Carnival, Inc. (NASDAQ: SCVL) in a note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Hold on the stock, Shoe Carnival, Inc. has a 52-week high of $31.79. As a means of comparison, a number of other analysts have issued reports on the company in recent days, and Shoe Carnival, Inc. has secured a consensus one-year price target of $28.75, higher than the opening price of $24.36, a difference of 12.04 percent. Stock prices often trend to the upside on recommendations and new price targets of professional analysts.
Shares of Shoe Carnival, Inc. (NASDAQ: SCVL) opened at $24.36 yesterday and traded in a range between, $23.65 and $24.36, and last traded at $23.87, a decrease of $1.63 over the previous closing price.
Shoe Carnival, Inc. (NASDAQ: SCVL) now has a market cap of 439.64M.
Shoe Carnival, Inc. (NASDAQ: SCVL) Average Daily Trading Volume
The stock’s average daily volume is 128,524 shares out of a total float 12,742,000 and some 42,485 shares crossed the trading desk yesterday, 50 percent lower than the norm. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Professional investors such as these have substantial teams of analysts researching thousands of stocks. Thus, watching their interests is a good way to ensure you are buying the right stocks.
Shoe Carnival, Inc. (NASDAQ: SCVL) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Shoe Carnival, Inc. (NASDAQ: SCVL) now has a 50-day MA of $28.37 and 200-day MA of $27.00. It has traded in a 52-week range between $20.98 – 31.790 and today’s last price is 24.93%% lower than the 52 week high of $31.79.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings by at least 25% over 3 consecutive years.
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