Caleres, Inc. (CAL) Stock Rating Lowered by Zacks Investment Research
Caleres, Inc. (NYSE:CAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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. “
Several other brokerages have also recently commented on CAL. BidaskClub cut shares of Caleres from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. TheStreet raised shares of Caleres from a “c+” rating to a “b-” rating in a research report on Thursday, July 27th. Macquarie reaffirmed an “outperform” rating and set a $37.00 price target on shares of Caleres in a research report on Sunday, October 1st. Finally, Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $31.00 price target on shares of Caleres in a research report on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $33.00.
Caleres (CAL) traded down 3.36% during mid-day trading on Tuesday, reaching $27.33. The company’s stock had a trading volume of 444,001 shares. The stock has a market capitalization of $1.17 billion, a P/E ratio of 19.40 and a beta of 1.07. Caleres has a 1-year low of $22.39 and a 1-year high of $36.61. The stock’s 50 day moving average price is $29.38 and its 200 day moving average price is $27.43.
Caleres (NYSE:CAL) last posted its quarterly earnings data on Tuesday, August 29th. The textile maker reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates 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 $677.00 million during the quarter, compared to analysts’ expectations of $668.85 million. During the same period in the prior year, the company posted $0.46 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts expect that Caleres will post $2.18 EPS for the current fiscal year.
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In related news, SVP Douglas Koch sold 33,400 shares of the stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $30.03, for a total transaction of $1,003,002.00. Following the sale, the senior vice president now owns 103,837 shares in the company, valued at $3,118,225.11. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CAL. Karp Capital Management Corp acquired a new stake in Caleres during the first quarter worth about $225,000. Teachers Advisors LLC raised its stake in Caleres by 9.2% during the first quarter. Teachers Advisors LLC now owns 426,711 shares of the textile maker’s stock worth $11,274,000 after acquiring an additional 36,073 shares during the period. TIAA CREF Investment Management LLC raised its stake in Caleres by 0.6% during the first quarter. TIAA CREF Investment Management LLC now owns 283,584 shares of the textile maker’s stock worth $7,492,000 after acquiring an additional 1,556 shares during the period. California Public Employees Retirement System raised its stake in Caleres by 0.5% during the first quarter. California Public Employees Retirement System now owns 159,250 shares of the textile maker’s stock worth $4,207,000 after acquiring an additional 800 shares during the period. Finally, Vanguard Group Inc. raised its stake in Caleres by 6.0% during the first quarter. Vanguard Group Inc. now owns 3,783,362 shares of the textile maker’s stock worth $99,956,000 after acquiring an additional 212,710 shares during the period. Hedge funds and other institutional investors own 87.77% 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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