Caleres, Inc. (CAL) Lowered to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Caleres, Inc. (NYSE:CAL) from a hold rating to a sell rating in a research report released on Thursday morning.
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. “
Other research analysts have also recently issued research reports about the stock. BidaskClub cut shares of Caleres from a hold rating to a sell rating in a research report on Friday, July 28th. TheStreet upgraded shares of Caleres from a c+ rating to a b- rating in a research note on Thursday, July 27th. Susquehanna Bancshares Inc reissued a buy rating and issued a $31.00 price target on shares of Caleres in a report on Tuesday, August 29th. Macquarie reaffirmed an outperform rating and set a $37.00 target price on shares of Caleres in a report on Sunday, October 1st. Finally, Wedbush reiterated an outperform rating and set a $32.00 price target on shares of Caleres in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $33.17.
Caleres (NYSE CAL) traded down $0.58 on Thursday, reaching $30.41. The company had a trading volume of 1,128,700 shares, compared to its average volume of 341,219. Caleres has a 52-week low of $22.39 and a 52-week high of $36.61. The company has a current ratio of 1.93, a quick ratio of 0.38 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1,306.59, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.29 and a beta of 1.04.
Caleres (NYSE:CAL) last posted its quarterly earnings data on Tuesday, November 21st. The textile maker reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). Caleres had a return on equity of 13.59% and a net margin of 2.21%. The business had revenue of $774.66 million during the quarter, compared to the consensus estimate of $785.75 million. During the same quarter in the previous year, the firm posted $0.81 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. research analysts forecast that Caleres will post 2.15 earnings per share for the current year.
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In other news, SVP Douglas Koch sold 33,400 shares of the stock in a transaction that occurred on Monday, September 25th. The stock was sold at an average price of $30.03, for a total transaction of $1,003,002.00. Following the transaction, the senior vice president now owns 103,837 shares in the company, valued at approximately $3,118,225.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Caleres by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 3,783,362 shares of the textile maker’s stock valued at $99,956,000 after buying an additional 212,710 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Caleres by 8.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 319,610 shares of the textile maker’s stock valued at $8,445,000 after purchasing an additional 25,281 shares during the period. State Street Corp increased its holdings in shares of Caleres by 4.7% in the first quarter. State Street Corp now owns 1,158,763 shares of the textile maker’s stock valued at $30,619,000 after purchasing an additional 51,954 shares during the period. AQR Capital Management LLC increased its holdings in shares of Caleres by 4.8% in the first quarter. AQR Capital Management LLC now owns 59,347 shares of the textile maker’s stock valued at $1,568,000 after purchasing an additional 2,726 shares during the period. Finally, State of Alaska Department of Revenue increased its holdings in shares of Caleres by 78.5% in the second quarter. State of Alaska Department of Revenue now owns 8,495 shares of the textile maker’s stock valued at $235,000 after purchasing an additional 3,735 shares during the period. Institutional investors own 87.82% 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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