Caleres Inc (NYSE:CAL)’s share price dropped 6.3% during mid-day trading on Monday . The stock traded as low as $23.85 and last traded at $23.90. Approximately 821,300 shares changed hands during trading, an increase of 70% from the average daily volume of 483,961 shares. The stock had previously closed at $25.51.

CAL has been the subject of several research reports. Zacks Investment Research cut Caleres from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Loop Capital reduced their price objective on Caleres to $26.00 and set a “hold” rating for the company in a report on Friday, March 22nd. Wedbush reaffirmed an “outperform” rating on shares of Caleres in a report on Tuesday, March 12th. TheStreet cut Caleres from a “b-” rating to a “c” rating in a report on Friday, March 22nd. Finally, Needham & Company LLC raised Caleres from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Caleres has a consensus rating of “Buy” and a consensus price target of $37.80.

The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 10.79 and a beta of 0.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 0.34.

Caleres (NYSE:CAL) last released its quarterly earnings results on Thursday, March 21st. The textile maker reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.07). Caleres had a positive return on equity of 13.26% and a negative net margin of 0.19%. The company had revenue of $720.26 million during the quarter, compared to analyst estimates of $738.12 million. During the same period last year, the firm earned $0.48 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year. On average, research analysts anticipate that Caleres Inc will post 2.52 EPS for the current fiscal year.

In other news, insider Daniel R. Freidman sold 5,000 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the completion of the transaction, the insider now directly owns 74,046 shares of the company’s stock, valued at $2,221,380. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAL. Blueshift Asset Management LLC purchased a new stake in shares of Caleres in the fourth quarter valued at $586,000. Legal & General Group Plc grew its position in shares of Caleres by 8.9% in the third quarter. Legal & General Group Plc now owns 102,127 shares of the textile maker’s stock valued at $3,665,000 after purchasing an additional 8,324 shares during the period. Bank of New York Mellon Corp grew its position in shares of Caleres by 2.5% in the fourth quarter. Bank of New York Mellon Corp now owns 628,486 shares of the textile maker’s stock valued at $17,491,000 after purchasing an additional 15,225 shares during the period. Royce & Associates LP grew its position in shares of Caleres by 94.0% in the fourth quarter. Royce & Associates LP now owns 725,923 shares of the textile maker’s stock valued at $20,202,000 after purchasing an additional 351,780 shares during the period. Finally, Hodges Capital Management Inc. grew its position in shares of Caleres by 70.0% in the fourth quarter. Hodges Capital Management Inc. now owns 229,231 shares of the textile maker’s stock valued at $6,379,000 after purchasing an additional 94,396 shares during the period. 91.68% of the stock is owned by institutional investors.

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About Caleres (NYSE:CAL)

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

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