Caleres’ (CAL) “Hold” Rating Reaffirmed at Jefferies Group
Caleres Inc. (NYSE:CAL)‘s stock had its “hold” rating restated by Jefferies Group in a report issued on Wednesday. They presently have a $27.00 target price on the stock, up from their prior target price of $24.00. Jefferies Group’s price objective would indicate a potential downside of 18.31% from the stock’s previous close.
The analysts wrote, “Caleres drove solid 3Q results against a challenging retail backdrop. Better than expected top-line at Famous Footwear and GM expansion helped deliver a bottom-line beat. That said, we continue to view risk/reward balanced here and maintain our Hold rating.””
Several other analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Caleres from a “sell” rating to a “hold” rating in a research report on Tuesday, November 22nd. Susquehanna started coverage on shares of Caleres in a research report on Friday, September 16th. They set a “neutral” rating and a $25.00 price objective for the company. Finally, Morgan Stanley restated a “hold” rating and set a $30.00 price objective on shares of Caleres in a research report on Wednesday, September 7th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Caleres has an average rating of “Hold” and a consensus price target of $28.17.
Shares of Caleres (NYSE:CAL) traded up 1.72% during mid-day trading on Wednesday, hitting $33.05. 400,753 shares of the stock traded hands. Caleres has a 12-month low of $21.27 and a 12-month high of $33.70. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 17.49 and a beta of 0.52. The firm’s 50 day moving average price is $26.39 and its 200 day moving average price is $25.23.
Caleres (NYSE:CAL) last released its quarterly earnings results on Tuesday, November 22nd. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01. Caleres had a net margin of 3.28% and a return on equity of 13.76%. The firm earned $732.20 million during the quarter, compared to the consensus estimate of $734.09 million. During the same quarter in the prior year, the firm earned $0.80 EPS. Caleres’s revenue for the quarter was up .5% on a year-over-year basis. On average, equities research analysts predict that Caleres will post $2.05 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of Caleres by 8.1% in the third quarter. BlackRock Fund Advisors now owns 3,067,758 shares of the company’s stock worth $77,584,000 after buying an additional 230,781 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Caleres by 4.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,845,467 shares of the company’s stock worth $68,888,000 after buying an additional 123,786 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Caleres by 18.1% in the second quarter. Alliancebernstein L.P. now owns 2,782,158 shares of the company’s stock worth $67,356,000 after buying an additional 426,251 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Caleres by 7.1% in the second quarter. Victory Capital Management Inc. now owns 2,279,385 shares of the company’s stock worth $55,184,000 after buying an additional 150,246 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Caleres by 4.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,115,231 shares of the company’s stock worth $27,000,000 after buying an additional 45,094 shares in the last quarter. Institutional investors and hedge funds own 85.04% of the company’s stock.
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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