Caleres, Inc. (NYSE:CAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The firm presently has a $32.00 target price on the textile maker’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 12.08% from the company’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. “

Several other analysts have also recently issued reports on CAL. UBS AG upgraded Caleres from a “neutral” rating to a “positive” rating in a research report on Tuesday, May 30th. Susquehanna Bancshares Inc upgraded Caleres from a “neutral” rating to a “positive” rating and set a $31.00 target price for the company in a research report on Tuesday, May 30th. BidaskClub upgraded Caleres from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Finally, TheStreet upgraded Caleres from a “c+” rating to a “b-” rating in a research report on Thursday, July 27th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $31.80.

Shares of Caleres (NYSE:CAL) traded down 0.94% during mid-day trading on Monday, hitting $28.55. The stock had a trading volume of 169,452 shares. The stock’s 50-day moving average is $26.31 and its 200 day moving average is $27.07. Caleres has a 12 month low of $22.39 and a 12 month high of $36.61. The company has a market cap of $1.23 billion, a PE ratio of 20.26 and a beta of 1.06.

Caleres (NYSE:CAL) last released its earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.03. Caleres had a return on equity of 13.80% and a net margin of 2.26%. The firm had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $668.85 million. During the same quarter last year, the business posted $0.46 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Caleres will post $2.18 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Caleres by 45,530.3% during the first quarter. BlackRock Inc. now owns 5,242,013 shares of the textile maker’s stock valued at $138,493,000 after buying an additional 5,230,525 shares during the last quarter. Vanguard Group Inc. boosted its stake in Caleres by 0.8% during the second quarter. Vanguard Group Inc. now owns 3,814,134 shares of the textile maker’s stock valued at $105,956,000 after buying an additional 30,772 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Caleres by 11.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,588,016 shares of the textile maker’s stock valued at $99,676,000 after buying an additional 367,654 shares during the last quarter. Alliancebernstein L.P. boosted its stake in Caleres by 13.6% during the second quarter. Alliancebernstein L.P. now owns 3,164,709 shares of the textile maker’s stock valued at $87,916,000 after buying an additional 379,868 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Caleres by 10.3% during the second quarter. Victory Capital Management Inc. now owns 1,794,838 shares of the textile maker’s stock valued at $49,860,000 after buying an additional 167,005 shares during the last quarter. 86.37% of the stock is owned by institutional investors.

About Caleres

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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