Caleres, Inc. (CAL) Rating Lowered to Hold at Zacks Investment Research
Caleres, Inc. (NYSE:CAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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 research analysts have also issued reports on CAL. UBS AG upgraded shares of Caleres from a “neutral” rating to a “positive” rating in a research note on Tuesday, May 30th. Susquehanna Bancshares Inc upgraded shares of Caleres from a “neutral” rating to a “positive” rating and set a $31.00 price target on the stock in a research note on Tuesday, May 30th. BidaskClub upgraded shares of Caleres from a “sell” rating to a “hold” rating in a research note on Wednesday, June 14th. Finally, TheStreet upgraded shares of Caleres from a “c+” rating to a “b-” rating in a research note on Thursday, July 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $31.80.
Caleres (NYSE:CAL) traded down 0.28% during midday trading on Tuesday, reaching $28.47. 247,785 shares of the company’s stock were exchanged. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 20.21 and a beta of 1.06. Caleres has a 12-month low of $22.39 and a 12-month high of $36.61. The stock’s 50-day moving average is $26.34 and its 200-day moving average is $27.02.
Caleres (NYSE:CAL) last issued its quarterly earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $677.00 million for the quarter, compared to analyst estimates of $668.85 million. During the same quarter in the prior year, the business posted $0.46 EPS. Caleres’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, equities analysts forecast that Caleres will post $2.18 earnings per share for the current year.
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Large investors have recently added to or reduced their stakes in the company. Pacad Investment Ltd. acquired a new stake in shares of Caleres in the second quarter worth $142,000. LaSalle Street Capital Management LLC acquired a new stake in shares of Caleres in the second quarter worth $201,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of Caleres in the second quarter worth $204,000. Quantbot Technologies LP acquired a new stake in shares of Caleres in the first quarter worth $209,000. Finally, Karp Capital Management Corp acquired a new stake in shares of Caleres in the first quarter worth $225,000. Hedge funds and other institutional investors own 86.37% 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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