Caleres, Inc. (NYSE:CAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, August 31st. The firm presently has a $30.00 price target on the textile maker’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 4.09% from the stock’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. “
CAL has been the subject of several other research reports. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $31.00 price target on shares of Caleres in a research note on Tuesday, August 29th. BidaskClub raised shares of Caleres from a “sell” rating to a “hold” rating in a report on Friday, August 4th. TheStreet raised shares of Caleres from a “c+” rating to a “b-” rating in a report on Thursday, July 27th. Finally, UBS AG raised shares of Caleres from a “neutral” rating to a “positive” rating in a report on Tuesday, May 30th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Caleres currently has a consensus rating of “Buy” and an average price target of $31.40.
Caleres (NYSE:CAL) opened at 28.82 on Thursday. The firm’s 50 day moving average price is $26.31 and its 200-day moving average price is $27.07. The stock has a market cap of $1.24 billion, a P/E ratio of 20.45 and a beta of 1.06. Caleres has a 12-month low of $22.39 and a 12-month high of $36.61.
Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $677.00 million during the quarter, compared to the consensus estimate of $668.85 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Equities research analysts anticipate that Caleres will post $2.18 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CAL. BlackRock Inc. grew its holdings in Caleres by 45,530.3% in the first quarter. BlackRock Inc. now owns 5,242,013 shares of the textile maker’s stock worth $138,493,000 after purchasing an additional 5,230,525 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in Caleres in the second quarter worth $11,807,000. Alliancebernstein L.P. grew its holdings in Caleres by 13.6% in the second quarter. Alliancebernstein L.P. now owns 3,164,709 shares of the textile maker’s stock worth $87,916,000 after purchasing an additional 379,868 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Caleres by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,588,016 shares of the textile maker’s stock worth $99,676,000 after purchasing an additional 367,654 shares during the last quarter. Finally, Opus Capital Group LLC purchased a new position in Caleres in the first quarter worth $6,318,000. 86.31% of the stock is currently owned by institutional investors and hedge funds.
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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