Caleres, Inc. (CAL) Rating Lowered to Hold at Zacks Investment Research

Caleres, Inc. (NYSE:CAL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.

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 recently commented on CAL. UBS AG raised shares of Caleres from a “neutral” rating to a “positive” rating in a report on Tuesday, May 30th. BidaskClub cut shares of Caleres from a “hold” rating to a “sell” rating in a report on Friday, August 18th. TheStreet raised shares of Caleres from a “c+” rating to a “b-” rating in a report on Thursday, July 27th. Finally, Susquehanna Bancshares Inc reissued a “buy” rating and issued a $31.00 target price on shares of Caleres in a report on Tuesday, August 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $31.80.

Caleres (NYSE:CAL) last posted its earnings results on Tuesday, August 29th. The textile maker reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $677.00 million during the quarter, compared to analysts’ expectations of $668.85 million. Caleres had a net margin of 2.26% and a return on equity of 13.80%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 earnings per share.

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Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Caleres by 45,530.3% in the first quarter. BlackRock Inc. now owns 5,242,013 shares of the textile maker’s stock valued at $138,493,000 after buying an additional 5,230,525 shares during the period. Vanguard Group Inc. increased its stake in shares of Caleres by 0.8% in the second quarter. Vanguard Group Inc. now owns 3,814,134 shares of the textile maker’s stock valued at $105,956,000 after buying an additional 30,772 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Caleres by 11.4% in the second quarter. Dimensional Fund Advisors LP now owns 3,588,016 shares of the textile maker’s stock valued at $99,676,000 after buying an additional 367,654 shares during the period. Alliancebernstein L.P. increased its stake in shares of Caleres by 13.6% in the second quarter. Alliancebernstein L.P. now owns 3,164,709 shares of the textile maker’s stock valued at $87,916,000 after buying an additional 379,868 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Caleres by 10.3% in the second quarter. Victory Capital Management Inc. now owns 1,794,838 shares of the textile maker’s stock valued at $49,860,000 after buying an additional 167,005 shares during the period. 86.37% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Caleres (NYSE:CAL)

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