Caleres Inc. (CAL) Upgraded to “Hold” by Zacks Investment Research
Caleres Inc. (NYSE:CAL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Caleres, Inc. is a footwear retailer and wholesaler. The Company is involved in the operation of retail shoe stores and e-commerce Websites as well as the design, sourcing and marketing of footwear for women and men. Its operating segment consists of Famous Footwear and Brand Portfolio. The company brands include Nike, Skechers, Bearpaw, Converse, Vans, New Balance, adidas, Asics, Sperry and Sof Sole, LifeStride, Dr. Scholl’s, Fergalicious, Naturalizer and Carlos. Caleres, Inc., formerly known as Brown Shoe Company, Inc., is headquartered in St. Louis, Missouri. “
A number of other equities analysts have also weighed in on the stock. Susquehanna began coverage on shares of Caleres in a research note on Friday, September 16th. They issued a “neutral” rating and a $25.00 target price for the company. Morgan Stanley reissued a “hold” rating and set a $30.00 price target on shares of Caleres in a research report on Wednesday, September 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $27.67.
Shares of Caleres (NYSE:CAL) traded up 4.17% during midday trading on Tuesday, hitting $28.45. The stock had a trading volume of 496,347 shares. The firm has a market capitalization of $1.22 billion, a PE ratio of 15.05 and a beta of 0.52. The company’s 50 day moving average price is $25.92 and its 200-day moving average price is $25.09. Caleres has a 1-year low of $21.27 and a 1-year high of $31.75.
Caleres (NYSE:CAL) last announced its earnings results on Tuesday, August 30th. The company reported $0.46 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.04. The company earned $622.94 million during the quarter, compared to analyst estimates of $638.71 million. Caleres had a return on equity of 13.87% and a net margin of 3.26%. Caleres’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. Equities analysts predict that Caleres will post $2.02 earnings per share for the current year.
Several large investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC purchased a new stake in shares of Caleres during the third quarter worth about $434,000. Hillcrest Asset Management LLC boosted its position in Caleres by 1.3% in the third quarter. Hillcrest Asset Management LLC now owns 248,521 shares of the company’s stock valued at $6,285,000 after buying an additional 3,250 shares in the last quarter. Penn Capital Management Co. Inc. boosted its position in Caleres by 116.8% in the third quarter. Penn Capital Management Co. Inc. now owns 375,468 shares of the company’s stock valued at $9,496,000 after buying an additional 202,280 shares in the last quarter. Panagora Asset Management Inc. boosted its position in Caleres by 9.5% in the third quarter. Panagora Asset Management Inc. now owns 343,606 shares of the company’s stock valued at $8,690,000 after buying an additional 29,780 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its position in Caleres by 91.8% in the third quarter. Gotham Asset Management LLC now owns 43,498 shares of the company’s stock valued at $1,100,000 after buying an additional 20,825 shares in the last quarter. 85.04% of the stock is currently owned by institutional investors.
Caleres Company Profile
Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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