Caleres Inc (NYSE:CAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The brokerage presently has a $30.00 price objective on the textile maker’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.19% from the company’s previous close.

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 equities research analysts have also recently weighed in on CAL. UBS AG upgraded Caleres from a “neutral” rating to a “positive” rating in a report on Tuesday, May 30th. BidaskClub cut Caleres from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Susquehanna Bancshares Inc reiterated a “buy” rating and issued a $31.00 target price on shares of Caleres in a report on Tuesday. Finally, TheStreet upgraded Caleres from a “c+” rating to a “b-” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $31.40.

Shares of Caleres (NYSE:CAL) traded up 1.01% during mid-day trading on Thursday, reaching $26.98. The company’s stock had a trading volume of 756,527 shares. The company’s 50-day moving average price is $26.13 and its 200-day moving average price is $27.40. The stock has a market capitalization of $1.16 billion, a P/E ratio of 19.19 and a beta of 1.07. Caleres has a 12-month low of $22.39 and a 12-month high of $36.61.

Caleres (NYSE:CAL) last issued its earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.03. Caleres had a return on equity of 9.43% and a net margin of 2.36%. The business had revenue of $677 million during the quarter, compared to analysts’ expectations of $668.85 million. During the same period in the prior year, the business earned $0.46 EPS. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Caleres will post $2.18 earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAL. Comerica Bank raised its position in Caleres by 3.4% in the first quarter. Comerica Bank now owns 47,767 shares of the textile maker’s stock valued at $1,376,000 after buying an additional 1,578 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Caleres by 7.8% in the first quarter. BNP Paribas Arbitrage SA now owns 12,457 shares of the textile maker’s stock valued at $329,000 after buying an additional 896 shares during the last quarter. Bank of New York Mellon Corp raised its position in Caleres by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 657,535 shares of the textile maker’s stock valued at $17,372,000 after buying an additional 25,941 shares during the last quarter. American Century Companies Inc. raised its position in Caleres by 0.7% in the first quarter. American Century Companies Inc. now owns 47,556 shares of the textile maker’s stock valued at $1,256,000 after buying an additional 343 shares during the last quarter. Finally, LSV Asset Management raised its position in Caleres by 18.8% in the first quarter. LSV Asset Management now owns 30,900 shares of the textile maker’s stock valued at $816,000 after buying an additional 4,900 shares during the last quarter. 86.31% of the stock is owned by hedge funds and other institutional investors.

Caleres Company Profile

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.

Analyst Recommendations for Caleres (NYSE:CAL)

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