Caleres Inc. (CAL) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of Caleres Inc. (NYSE:CAL) from a hold rating to a buy rating in a research note published on Monday morning. They currently have $37.00 target price 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. “
A number of other research analysts have also weighed in on the stock. Morgan Stanley reissued a hold rating and set a $30.00 price target on shares of Caleres in a research report on Wednesday, September 7th. Jefferies Group reissued a hold rating and set a $27.00 price target (up from $24.00) on shares of Caleres in a research report on Wednesday, November 23rd. Finally, Susquehanna started coverage on shares of Caleres in a research report on Friday, September 16th. They set a neutral rating and a $25.00 price target on the stock. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Caleres currently has a consensus rating of Buy and a consensus price target of $29.50.
Shares of Caleres (NYSE:CAL) opened at 33.06 on Monday. Caleres has a 12-month low of $21.27 and a 12-month high of $33.70. The firm has a 50-day moving average of $26.59 and a 200-day moving average of $25.33. The company has a market cap of $1.42 billion, a P/E ratio of 17.49 and a beta of 0.52.
Caleres (NYSE:CAL) last released its quarterly earnings data on Tuesday, November 22nd. The company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.01. Caleres had a net margin of 3.28% and a return on equity of 13.76%. The firm had revenue of $732.20 million for the quarter, compared to analyst estimates of $734.09 million. During the same period last year, the firm earned $0.80 earnings per share. The business’s quarterly revenue was up .5% compared to the same quarter last year. Analysts predict that Caleres will post $2.05 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of the company. Swiss National Bank increased its stake in Caleres by 4.9% in the second quarter. Swiss National Bank now owns 73,000 shares of the company’s stock worth $1,767,000 after buying an additional 3,400 shares during the period. Suntrust Banks Inc. increased its stake in Caleres by 1.1% in the second quarter. Suntrust Banks Inc. now owns 34,669 shares of the company’s stock worth $839,000 after buying an additional 391 shares during the period. Societe Generale bought a new stake in Caleres during the second quarter worth about $545,000. State of New Jersey Common Pension Fund D increased its stake in Caleres by 12.9% in the second quarter. State of New Jersey Common Pension Fund D now owns 87,500 shares of the company’s stock worth $2,118,000 after buying an additional 10,000 shares during the period. Finally, Quantbot Technologies LP increased its stake in Caleres by 141.0% in the second quarter. Quantbot Technologies LP now owns 7,126 shares of the company’s stock worth $172,000 after buying an additional 4,169 shares during the period. Institutional investors and hedge funds own 85.29% of the company’s stock.
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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