Caleres Inc. (CAL) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Caleres Inc. (NYSE:CAL) from a hold rating to a buy rating in a research report sent to investors on Monday morning. They currently have $37.00 price objective on the stock.
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 issued reports about the company. Jefferies Group reissued a hold rating and issued a $27.00 price objective (up from $24.00) on shares of Caleres in a research report on Wednesday, November 23rd. Susquehanna began coverage on Caleres in a research report on Friday, September 16th. They issued a neutral rating and a $25.00 price objective on the stock. Finally, Morgan Stanley reissued a hold rating and issued a $30.00 price objective on shares of Caleres in a research report on Wednesday, September 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $29.50.
Shares of Caleres (NYSE:CAL) opened at 32.74 on Monday. Caleres has a 12-month low of $21.27 and a 12-month high of $33.70. The stock has a 50 day moving average price of $26.77 and a 200 day moving average price of $25.39. The stock has a market capitalization of $1.37 billion, a P/E ratio of 16.98 and a beta of 0.52.
Caleres (NYSE:CAL) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.81 EPS for the quarter, beating the consensus estimate of $0.80 by $0.01. Caleres had a return on equity of 13.76% and a net margin of 3.28%. The company had revenue of $732.20 million for the quarter, compared to analyst estimates of $734.09 million. During the same period last year, the company posted $0.80 earnings per share. The firm’s revenue was up .5% compared to the same quarter last year. On average, equities analysts anticipate that Caleres will post $2.05 earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in CAL. Renaissance Technologies LLC increased its position in Caleres by 124.0% in the first quarter. Renaissance Technologies LLC now owns 431,150 shares of the company’s stock worth $12,197,000 after buying an additional 238,700 shares during the period. BNP Paribas Arbitrage SA increased its position in Caleres by 97.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,831 shares of the company’s stock worth $359,000 after buying an additional 7,332 shares during the period. First Manhattan Co. increased its position in Caleres by 312.2% in the second quarter. First Manhattan Co. now owns 70,900 shares of the company’s stock worth $1,716,000 after buying an additional 53,700 shares during the period. Shell Asset Management Co. purchased a new position in Caleres during the second quarter worth approximately $851,000. Finally, Strs Ohio increased its position in Caleres by 11.8% in the second quarter. Strs Ohio now owns 37,000 shares of the company’s stock worth $895,000 after buying an additional 3,900 shares during the period. Institutional investors own 85.29% of the company’s stock.
Caleres Company Profile
Caleres, Inc, formerly Brown Shoe Company, 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. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.
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