Brokerages Set Caleres Inc (CAL) Target Price at $32.00

Shares of Caleres Inc (NYSE:CAL) have received an average rating of “Hold” from the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $32.00.

Several research analysts have weighed in on the company. TheStreet lowered Caleres from a “b-” rating to a “c” rating in a report on Friday, March 22nd. ValuEngine downgraded Caleres from a “hold” rating to a “sell” rating in a report on Friday, March 22nd. Zacks Investment Research raised Caleres from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. Wedbush reiterated an “outperform” rating on shares of Caleres in a report on Tuesday, March 12th. Finally, Macquarie set a $38.00 price objective on Caleres and gave the company a “buy” rating in a research report on Friday, March 22nd.

Shares of Caleres stock traded down $0.21 during midday trading on Wednesday, reaching $25.77. The company had a trading volume of 12,737 shares, compared to its average volume of 712,327. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.14 and a quick ratio of 0.34. The firm has a market cap of $1.09 billion, a P/E ratio of 11.64 and a beta of 0.73. Caleres has a 1-year low of $22.85 and a 1-year high of $41.09.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, March 21st. The textile maker reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.07). Caleres had a positive return on equity of 13.26% and a negative net margin of 0.19%. The company had revenue of $720.26 million during the quarter, compared to the consensus estimate of $738.12 million. During the same quarter last year, the firm earned $0.48 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. On average, sell-side analysts expect that Caleres will post 2.52 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th will be given a $0.07 dividend. The ex-dividend date is Monday, March 25th. This represents a $0.28 annualized dividend and a yield of 1.09%. Caleres’s dividend payout ratio is currently 12.67%.

Caleres declared that its board has initiated a share buyback program on Friday, December 14th that permits the company to buyback 2,500,000 shares. This buyback authorization permits the textile maker to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

In related news, insider Daniel R. Freidman sold 5,000 shares of Caleres stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the insider now owns 74,046 shares of the company’s stock, valued at $2,221,380. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. First Hawaiian Bank acquired a new stake in Caleres during the fourth quarter worth approximately $25,000. Riverhead Capital Management LLC increased its holdings in Caleres by 36.9% in the 3rd quarter. Riverhead Capital Management LLC now owns 5,196 shares of the textile maker’s stock worth $186,000 after acquiring an additional 1,400 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Caleres by 121.5% in the 3rd quarter. Pacer Advisors Inc. now owns 7,704 shares of the textile maker’s stock worth $276,000 after acquiring an additional 4,226 shares during the last quarter. Lenox Wealth Management Inc. raised its stake in Caleres by 3,574.6% in the 4th quarter. Lenox Wealth Management Inc. now owns 10,252 shares of the textile maker’s stock valued at $286,000 after acquiring an additional 9,973 shares during the period. Finally, Rafferty Asset Management LLC bought a new stake in Caleres in the 3rd quarter valued at about $288,000. Institutional investors and hedge funds own 91.59% of the company’s stock.

Caleres Company Profile

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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