Zacks Investment Research Upgrades Caleres (CAL) to “Hold”
Caleres (NYSE:CAL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
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 equities research analysts also recently commented on the company. Susquehanna Bancshares restated a “buy” rating and issued a $31.00 target price on shares of Caleres in a research report on Tuesday, August 29th. BidaskClub upgraded Caleres from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Wedbush restated an “outperform” rating and issued a $32.00 target price on shares of Caleres in a research report on Wednesday, November 22nd. Macquarie restated an “outperform” rating and issued a $37.00 target price on shares of Caleres in a research report on Sunday, October 1st. Finally, ValuEngine raised Caleres from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $33.17.
Shares of Caleres (NYSE CAL) opened at $32.22 on Wednesday. Caleres has a 1 year low of $22.39 and a 1 year high of $36.61. The company has a quick ratio of 0.49, a current ratio of 1.93 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $1,374.04, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 1.37 and a beta of 1.13.
Caleres (NYSE:CAL) last posted its earnings results on Tuesday, November 21st. The textile maker reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.05). Caleres had a net margin of 2.21% and a return on equity of 13.59%. The business had revenue of $774.66 million during the quarter, compared to analysts’ expectations of $785.75 million. During the same quarter in the prior year, the firm earned $0.81 EPS. Caleres’s revenue for the quarter was up 5.8% compared to the same quarter last year. equities research analysts expect that Caleres will post 2.12 EPS for the current fiscal year.
In other news, SVP Douglas Koch sold 33,400 shares of Caleres stock in a transaction on Monday, September 25th. The stock was sold at an average price of $30.03, for a total value of $1,003,002.00. Following the completion of the sale, the senior vice president now directly owns 103,837 shares of the company’s stock, valued at $3,118,225.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Diane M. Sullivan sold 26,100 shares of Caleres stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $32.57, for a total value of $850,077.00. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CAL. Parametric Portfolio Associates LLC grew its stake in Caleres by 14.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 152,863 shares of the textile maker’s stock worth $4,247,000 after purchasing an additional 19,341 shares in the last quarter. Vanguard Group Inc. grew its stake in Caleres by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,814,134 shares of the textile maker’s stock worth $105,956,000 after purchasing an additional 30,772 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in Caleres during the 3rd quarter worth $3,684,000. Paradigm Capital Management Inc. NY grew its stake in Caleres by 2.5% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 911,100 shares of the textile maker’s stock worth $25,310,000 after purchasing an additional 22,200 shares in the last quarter. Finally, Thrivent Financial For Lutherans grew its stake in Caleres by 48.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 237,775 shares of the textile maker’s stock worth $6,605,000 after purchasing an additional 78,110 shares in the last quarter. 86.57% of the stock is owned by institutional investors and hedge funds.
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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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