Zacks Investment Research upgraded shares of Caleres, Inc. (NYSE:CAL) from a hold rating to a buy rating in a research note issued to investors on Wednesday. The brokerage currently has $30.00 price target on the textile maker’s stock.

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. “

A number of other brokerages have also commented on CAL. BidaskClub lowered shares of Caleres from a hold rating to a sell rating in a report on Friday, July 28th. TheStreet raised shares of Caleres from a c+ rating to a b- rating in a research note on Thursday, July 27th. Susquehanna Bancshares Inc raised shares of Caleres from a neutral rating to a positive rating and set a $31.00 price objective for the company in a research note on Tuesday, May 30th. Finally, UBS AG raised shares of Caleres from a neutral rating to a positive rating in a research note on Tuesday, May 30th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $31.40.

Caleres (NYSE CAL) traded up 0.33% on Wednesday, reaching $27.49. 344,758 shares of the company’s stock traded hands. The company’s 50 day moving average is $26.08 and its 200-day moving average is $27.15. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 19.55 and a beta of 1.06. Caleres has a 52-week low of $22.39 and a 52-week high of $36.61.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. Caleres had a net margin of 2.26% and a return on equity of 13.80%. The company had revenue of $677 million for the quarter, compared to analyst estimates of $668.85 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that Caleres will post $2.18 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 18th will be given a dividend of $0.07 per share. The ex-dividend date is Friday, September 15th. This represents a $0.28 annualized dividend and a yield of 1.02%. Caleres’s payout ratio is currently 19.86%.

Several institutional investors have recently modified their holdings of CAL. Bank of Montreal Can increased its stake in shares of Caleres by 2,000.9% in the 1st quarter. Bank of Montreal Can now owns 67,228 shares of the textile maker’s stock worth $1,776,000 after acquiring an additional 64,028 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Caleres by 0.6% in the 1st quarter. Louisiana State Employees Retirement System now owns 17,500 shares of the textile maker’s stock worth $462,000 after acquiring an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of Caleres by 1.3% in the 1st quarter. State of Alaska Department of Revenue now owns 4,760 shares of the textile maker’s stock worth $125,000 after acquiring an additional 60 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of Caleres by 35.1% in the 1st quarter. Nationwide Fund Advisors now owns 138,461 shares of the textile maker’s stock worth $3,658,000 after acquiring an additional 35,983 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Caleres by 13.7% in the 1st quarter. Strs Ohio now owns 33,300 shares of the textile maker’s stock worth $879,000 after acquiring an additional 4,000 shares in the last quarter. Institutional investors own 86.31% of the company’s stock.

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.

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Analyst Recommendations for Caleres (NYSE:CAL)

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