Caleres Inc. (CAL) Receives Consensus Recommendation of “Buy” from Analysts
Caleres Inc. (NYSE:CAL) has earned an average rating of “Buy” from the seven ratings firms that are covering the company. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $29.50.
A number of brokerages have recently issued reports on CAL. Zacks Investment Research raised shares of Caleres from a “sell” rating to a “hold” rating in a report on Thursday, September 8th. Morgan Stanley reaffirmed a “hold” rating and set a $30.00 price target on shares of Caleres in a report on Wednesday, September 7th. Susquehanna began coverage on shares of Caleres in a report on Friday, September 16th. They set a “neutral” rating and a $25.00 price target on the stock. Finally, Jefferies Group reaffirmed a “hold” rating and set a $27.00 price target (up previously from $24.00) on shares of Caleres in a report on Wednesday, November 23rd.
Caleres (NYSE:CAL) traded down 2.24% during mid-day trading on Tuesday, hitting $32.32. 169,532 shares of the stock traded hands. The company’s 50 day moving average price is $26.59 and its 200-day moving average price is $25.33. Caleres has a 1-year low of $21.27 and a 1-year high of $33.70. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of 16.76 and a beta of 0.52.
Caleres (NYSE:CAL) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.81 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $732.20 million for the quarter, compared to the consensus estimate of $734.09 million. During the same period in the prior year, the firm posted $0.80 EPS. Caleres’s revenue for the quarter was up .5% on a year-over-year basis. Analysts predict that Caleres will post $2.05 earnings per share for the current year.
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Several institutional investors have recently modified their holdings of CAL. Piedmont Investment Advisors LLC acquired a new position in shares of Caleres during the third quarter valued at $434,000. Hillcrest Asset Management LLC boosted its stake in Caleres by 1.3% in the third quarter. Hillcrest Asset Management LLC now owns 248,521 shares of the company’s stock worth $6,285,000 after buying an additional 3,250 shares during the last quarter. Penn Capital Management Co. Inc. boosted its stake in Caleres by 116.8% in the third quarter. Penn Capital Management Co. Inc. now owns 375,468 shares of the company’s stock worth $9,496,000 after buying an additional 202,280 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Caleres by 9.5% in the third quarter. Panagora Asset Management Inc. now owns 343,606 shares of the company’s stock worth $8,690,000 after buying an additional 29,780 shares during the last quarter. Finally, Gotham Asset Management LLC boosted its stake in Caleres by 91.8% in the third quarter. Gotham Asset Management LLC now owns 43,498 shares of the company’s stock worth $1,100,000 after buying an additional 20,825 shares during the last quarter. Hedge funds and other institutional investors own 85.29% of the company’s stock.
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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