Caleres (CAL) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Caleres (NYSE:CAL) from a hold rating to a buy rating in a research report report published on Friday morning.

CAL has been the topic of a number of other reports. Zacks Investment Research lowered shares of Caleres from a buy rating to a hold rating in a research note on Tuesday, September 5th. Susquehanna Bancshares reaffirmed a buy rating and issued a $31.00 price target 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 4th. Wedbush reaffirmed an outperform rating and issued a $32.00 price target on shares of Caleres in a research note on Wednesday, November 22nd. Finally, Macquarie reaffirmed an outperform rating and issued a $37.00 price target on shares of Caleres in a research note on Sunday, October 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $33.17.

Shares of Caleres (NYSE CAL) opened at $32.43 on Friday. Caleres has a 12-month low of $22.39 and a 12-month high of $36.61. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.49 and a current ratio of 1.93. The company has a market capitalization of $1,350.85, a PE ratio of 15.64, a PEG ratio of 1.33 and a beta of 1.13.

Caleres (NYSE:CAL) last posted its earnings results on Tuesday, November 21st. The textile maker reported $0.80 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by ($0.05). Caleres had a net margin of 2.21% and a return on equity of 13.59%. The business had revenue of $774.66 million for the quarter, compared to analyst estimates of $785.75 million. During the same quarter last year, the business earned $0.81 earnings per share. Caleres’s revenue was up 5.8% on a year-over-year basis. analysts predict that Caleres will post 2.15 earnings per share for the current fiscal year.

In other Caleres news, CEO Diane M. Sullivan sold 26,100 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $32.57, for a total value of $850,077.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Douglas Koch sold 33,400 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 103,837 shares in the company, valued at $3,118,225.11. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pacad Investment Ltd. purchased a new position in Caleres in the 2nd quarter worth approximately $142,000. YorkBridge Wealth Partners LLC purchased a new position in Caleres in the 3rd quarter worth approximately $183,000. LaSalle Street Capital Management LLC purchased a new position in Caleres in the 2nd quarter worth approximately $201,000. Fox Run Management L.L.C. purchased a new position in Caleres in the 3rd quarter worth approximately $244,000. Finally, Verition Fund Management LLC purchased a new position in Caleres in the 2nd quarter worth approximately $229,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.

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About Caleres

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Caleres (NYSE:CAL)

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