Caleres (NYSE:CAL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.

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. “

CAL has been the subject of several other reports. ValuEngine cut Caleres from a “sell” rating to a “strong sell” rating in a research report on Monday, May 20th. Needham & Company LLC upgraded Caleres from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Monday, April 22nd. Loop Capital upgraded Caleres from a “hold” rating to a “buy” rating and boosted their target price for the stock from $26.00 to $32.00 in a research report on Wednesday, April 10th. TheStreet cut Caleres from a “b-” rating to a “c” rating in a research report on Friday, March 22nd. Finally, Macquarie set a $38.00 target price on Caleres and gave the stock a “buy” rating in a research report on Friday, March 22nd. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.80.

Shares of NYSE:CAL traded down $1.15 during midday trading on Wednesday, reaching $18.64. 1,225,400 shares of the company traded hands, compared to its average volume of 547,874. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.34 and a current ratio of 1.14. Caleres has a 12 month low of $18.54 and a 12 month high of $41.09. The firm has a market cap of $819.18 million, a price-to-earnings ratio of 8.43 and a beta of 0.95.

Caleres (NYSE:CAL) last released its quarterly earnings data on Monday, June 3rd. The textile maker reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Caleres had a positive return on equity of 12.77% and a negative net margin of 0.47%. The company had revenue of $677.80 million for the quarter, compared to analyst estimates of $672.90 million. During the same period in the previous year, the company posted $0.43 EPS. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. Equities analysts predict that Caleres will post 2.52 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Piedmont Investment Advisors Inc. boosted its holdings in shares of Caleres by 5.2% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 10,790 shares of the textile maker’s stock worth $266,000 after purchasing an additional 530 shares in the last quarter. Smith Moore & CO. boosted its holdings in shares of Caleres by 5.1% in the 4th quarter. Smith Moore & CO. now owns 13,419 shares of the textile maker’s stock worth $373,000 after purchasing an additional 649 shares in the last quarter. Comerica Bank boosted its holdings in shares of Caleres by 1.6% in the 1st quarter. Comerica Bank now owns 42,515 shares of the textile maker’s stock worth $1,098,000 after purchasing an additional 651 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in shares of Caleres by 7.3% in the 1st quarter. Wedge Capital Management L L P NC now owns 9,756 shares of the textile maker’s stock worth $241,000 after purchasing an additional 666 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Caleres by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 30,997 shares of the textile maker’s stock worth $863,000 after purchasing an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 95.51% of the company’s stock.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

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