Trade Report: Today, Caleres Inc (CAL) PT Raised to $27.00 at Jefferies Group

Today, Caleres Inc (CAL) PT Raised to $27.00 at Jefferies Group

Caleres Inc (NYSE:CAL) had its target price lifted by stock analysts at Jefferies Group from $24.00 to $27.00 in a research note issued to investors on Wednesday. The brokerage presently has a “hold” rating on the stock. Jefferies Group’s price objective points to a potential downside of 16.90% from the company’s current price.

The analysts wrote, “Caleres drove solid 3Q results against a challenging retail backdrop. Better than expected top-line at Famous Footwear and GM expansion helped deliver a bottom-line beat. That said, we continue to view risk/reward balanced here and maintain our Hold rating.””

CAL has been the subject of several other research reports. Susquehanna started coverage on shares of Caleres in a research note on Friday, September 16th. They issued a “neutral” rating and a $25.00 target price for the company. Morgan Stanley reaffirmed a “hold” rating and issued a $30.00 target price on shares of Caleres in a research note on Wednesday, September 7th. Finally, Zacks Investment Research raised shares of Caleres from a “sell” rating to a “hold” rating in a research note on Friday, September 23rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $28.17.

Shares of Caleres (NYSE:CAL) opened at 32.49 on Wednesday. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 17.19 and a beta of 0.52. Caleres has a 1-year low of $21.27 and a 1-year high of $33.47. The company has a 50 day moving average of $26.19 and a 200 day moving average of $25.17.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.01. Caleres had a net margin of 3.28% and a return on equity of 13.76%. The business earned $732.20 million during the quarter, compared to the consensus estimate of $734.09 million. During the same period in the previous year, the firm posted $0.80 earnings per share. Caleres’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities analysts forecast that Caleres will post $2.02 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of CAL. Paradigm Asset Management Co. LLC boosted its position in shares of Caleres by 466.7% in the second quarter. Paradigm Asset Management Co. LLC now owns 4,250 shares of the company’s stock valued at $103,000 after buying an additional 3,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Caleres by 408.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,807 shares of the company’s stock valued at $122,000 after buying an additional 3,862 shares during the last quarter. PineBridge Investments L.P. boosted its position in shares of Caleres by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,537 shares of the company’s stock valued at $134,000 after buying an additional 199 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Caleres by 22.8% in the second quarter. Teacher Retirement System of Texas now owns 6,250 shares of the company’s stock valued at $151,000 after buying an additional 1,159 shares during the last quarter. Finally, Quantbot Technologies LP boosted its position in shares of Caleres by 141.0% in the second quarter. Quantbot Technologies LP now owns 7,126 shares of the company’s stock valued at $172,000 after buying an additional 4,169 shares during the last quarter. 85.04% of the stock is owned by institutional investors.

Caleres Company Profile

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