Zacks Investment Research downgraded shares of Caleres, Inc. (NYSE:CAL) from a buy rating to a hold rating in a report released on Tuesday 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. “

Several other equities research analysts have also recently issued reports on the stock. Susquehanna Bancshares Inc reaffirmed a buy rating and set a $31.00 target price 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 research note on Friday, August 25th. TheStreet raised shares of Caleres from a c+ rating to a b- rating in a research note on Thursday, July 27th. Finally, Macquarie reaffirmed an outperform rating and set a $37.00 target price on shares of Caleres in a research note on Sunday, October 1st. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $33.00.

Caleres (CAL) traded up $0.46 during mid-day trading on Tuesday, hitting $27.79. The stock had a trading volume of 191,739 shares, compared to its average volume of 314,245. The company has a market cap of $1.20 billion, a P/E ratio of 13.78 and a beta of 1.04.

Caleres (NYSE:CAL) last released its quarterly earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share (EPS) 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 firm had revenue of $677.00 million for the quarter, compared to analysts’ expectations of $668.85 million. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. analysts forecast that Caleres will post 2.2 earnings per share for the current year.

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In other news, SVP Douglas Koch sold 33,400 shares of Caleres stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Parametric Portfolio Associates LLC raised its holdings in Caleres by 14.5% in 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 during the period. Paradigm Capital Management Inc. NY raised its holdings in Caleres by 2.5% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 911,100 shares of the textile maker’s stock valued at $25,310,000 after buying an additional 22,200 shares during the period. Public Employees Retirement System of Ohio raised its holdings in Caleres by 0.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 81,921 shares of the textile maker’s stock valued at $2,164,000 after buying an additional 338 shares during the period. Bank of America Corp DE raised its holdings in Caleres by 30.0% in the 1st quarter. Bank of America Corp DE now owns 343,326 shares of the textile maker’s stock valued at $9,071,000 after buying an additional 79,330 shares during the period. Finally, Thrivent Financial For Lutherans raised its holdings in Caleres by 48.9% in the 2nd quarter. Thrivent Financial For Lutherans now owns 237,775 shares of the textile maker’s stock valued at $6,605,000 after buying an additional 78,110 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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Analyst Recommendations for Caleres (NYSE:CAL)

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