Caleres Inc. (CAL) Stock Rating Upgraded by Zacks Investment Research
Caleres Inc. (NYSE:CAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Monday. The firm currently has a $37.00 price objective on the stock. Zacks Investment Research’s price target would indicate a potential upside of 13.67% from the stock’s current price.
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. “
Other research analysts have also recently issued reports about the stock. Morgan Stanley reiterated a “hold” rating and set a $30.00 target price on shares of Caleres in a report on Wednesday, September 7th. Jefferies Group reiterated a “hold” rating and set a $27.00 target price (up from $24.00) on shares of Caleres in a report on Wednesday, November 23rd. Finally, Susquehanna initiated coverage on shares of Caleres in a report on Friday, September 16th. They set a “neutral” rating and a $25.00 target price on the stock. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $29.50.
Caleres (NYSE:CAL) opened at 32.55 on Monday. The stock has a market capitalization of $1.36 billion, a PE ratio of 16.88 and a beta of 0.52. The stock’s 50 day moving average is $26.59 and its 200 day moving average is $25.33. Caleres has a 12-month low of $21.27 and a 12-month high of $33.70.
Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.81 EPS for the quarter, topping the Zacks’ 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 had revenue of $732.20 million for the quarter, compared to analysts’ expectations of $734.09 million. During the same period in the prior year, the business posted $0.80 earnings per share. The business’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts anticipate that Caleres will post $2.05 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of CAL. Paradigm Asset Management Co. LLC boosted its stake in Caleres by 466.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock worth $103,000 after buying an additional 3,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Caleres by 408.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the company’s stock worth $122,000 after buying an additional 3,862 shares in the last quarter. PineBridge Investments L.P. boosted its stake in Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock worth $134,000 after buying an additional 199 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Caleres by 22.8% in the second quarter. Teacher Retirement System of Texas now owns 6,250 shares of the company’s stock worth $151,000 after buying an additional 1,159 shares in the last quarter. Finally, Quantbot Technologies LP boosted its stake in Caleres by 141.0% in the second quarter. Quantbot Technologies LP now owns 7,126 shares of the company’s stock worth $172,000 after buying an additional 4,169 shares in the last quarter. 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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