Caleres, Inc. (CAL) Stock Rating Lowered by Zacks Investment Research
Caleres, Inc. (NYSE:CAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
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. “
Several other research analysts also recently commented on the stock. BidaskClub raised shares of Caleres from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Susquehanna Bancshares Inc upgraded shares of Caleres from a “neutral” rating to a “positive” rating and set a $31.00 target price on the stock in a report on Tuesday, May 30th. TheStreet upgraded shares of Caleres from a “c+” rating to a “b-” rating in a report on Thursday, July 27th. Finally, UBS AG upgraded shares of Caleres from a “neutral” rating to a “positive” rating in a report on Tuesday, May 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $31.40.
Shares of Caleres (CAL) opened at 26.30 on Thursday. The firm’s 50-day moving average is $26.13 and its 200-day moving average is $27.40. Caleres has a 12 month low of $22.39 and a 12 month high of $36.61. The company has a market cap of $1.13 billion, a PE ratio of 18.03 and a beta of 1.07.
Caleres (NYSE:CAL) last posted its quarterly earnings results on Thursday, May 25th. The textile maker reported $0.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. The company had revenue of $631.50 million for the quarter, compared to the consensus estimate of $621.31 million. Caleres had a net margin of 2.39% and a return on equity of 13.80%. The firm’s revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. On average, equities research analysts predict that Caleres will post $2.18 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue boosted its stake in Caleres by 1.3% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the textile maker’s stock worth $125,000 after buying an additional 60 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Caleres during the second quarter worth $142,000. LaSalle Street Capital Management LLC purchased a new stake in Caleres during the second quarter worth $201,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Caleres during the second quarter worth $204,000. Finally, Quantbot Technologies LP purchased a new stake in Caleres during the first quarter worth $209,000. Institutional investors and hedge funds own 83.92% of the company’s stock.
Caleres, 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. The Company operates through two segments: Famous Footwear and Brand Portfolio.
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