Caleres (CAL) Rating Lowered to Hold at Zacks Investment Research

Caleres (NYSE:CAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday, February 20th.

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. “

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A number of other equities research analysts also recently issued reports on CAL. Wedbush reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Caleres in a research report on Wednesday, November 22nd. Susquehanna Bancshares reiterated a “buy” rating and issued a $32.00 target price on shares of Caleres in a research note on Wednesday, November 22nd. ValuEngine upgraded shares of Caleres from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, UBS cut shares of Caleres from a “positive” rating to a “neutral” rating in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Caleres presently has an average rating of “Hold” and a consensus target price of $33.83.

Shares of Caleres (NYSE:CAL) traded up $0.51 during mid-day trading on Tuesday, reaching $31.86. 652,040 shares of the company’s stock were exchanged, compared to its average volume of 347,147. Caleres has a twelve month low of $22.39 and a twelve month high of $34.34. The company has a quick ratio of 0.49, a current ratio of 1.97 and a debt-to-equity ratio of 0.27. The company has a market cap of $1,369.31, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 1.17 and a beta of 1.07.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Tuesday, March 13th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. Caleres had a net margin of 3.13% and a return on equity of 14.01%. The business had revenue of $702.50 million during the quarter, compared to the consensus estimate of $695.61 million. During the same period in the prior year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. research analysts predict that Caleres will post 2.49 earnings per share for the current fiscal year.

In related news, CEO Diane M. Sullivan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $34.00, for a total transaction of $510,000.00. Following the sale, the chief executive officer now directly owns 609,578 shares in the company, valued at approximately $20,725,652. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Richard M. Ausick sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $33.07, for a total transaction of $165,350.00. Following the sale, the insider now owns 90,834 shares in the company, valued at $3,003,880.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,000 shares of company stock worth $1,294,350. Corporate insiders own 6.20% of the company’s stock.

Several hedge funds have recently made changes to their positions in CAL. Wells Fargo & Company MN lifted its stake in shares of Caleres by 4.8% during the 2nd quarter. Wells Fargo & Company MN now owns 80,208 shares of the textile maker’s stock valued at $2,229,000 after buying an additional 3,686 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Caleres by 7.7% during the 2nd quarter. Northern Trust Corp now owns 835,932 shares of the textile maker’s stock valued at $23,223,000 after buying an additional 59,614 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Caleres by 0.8% during the 2nd quarter. Vanguard Group Inc. now owns 3,814,134 shares of the textile maker’s stock valued at $105,956,000 after buying an additional 30,772 shares in the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Caleres by 14.5% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 152,863 shares of the textile maker’s stock valued at $4,247,000 after buying an additional 19,341 shares in the last quarter. Finally, State Street Corp increased its holdings in Caleres by 8.0% during the 2nd quarter. State Street Corp now owns 1,251,450 shares of the textile maker’s stock worth $34,764,000 after acquiring an additional 92,687 shares during the period. Institutional investors own 89.68% of the company’s stock.

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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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