Caleres Inc. (NYSE:CAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Monday. The brokerage currently has a $37.00 price target on the stock. Zacks Investment Research’s target price indicates a potential upside of 11.41% from the stock’s previous close.
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. “
Other research analysts have also recently issued research reports about the stock. Morgan Stanley reissued a “hold” rating and issued a $30.00 target price on shares of Caleres in a report on Wednesday, September 7th. Jefferies Group reissued a “hold” rating and issued a $27.00 target price (up previously from $24.00) on shares of Caleres in a report on Wednesday, November 23rd. Finally, Susquehanna initiated coverage on shares of Caleres in a report on Friday, September 16th. They issued a “neutral” rating and a $25.00 target price for the company. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $29.50.
Caleres (NYSE:CAL) traded up 0.03% during midday trading on Monday, reaching $33.06. 516,883 shares of the company’s stock traded hands. The company has a market cap of $1.42 billion, a P/E ratio of 17.49 and a beta of 0.52. Caleres has a 52-week low of $21.27 and a 52-week high of $33.70. The stock has a 50-day moving average of $26.39 and a 200 day moving average of $25.23.
Caleres (NYSE:CAL) last posted its earnings results on Tuesday, November 22nd. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.01. The firm earned $732.20 million during the quarter, compared to analysts’ expectations of $734.09 million. Caleres had a net margin of 3.28% and a return on equity of 13.76%. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share. On average, analysts anticipate that Caleres will post $2.05 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Caleres during the fourth quarter worth $17,983,000. Alliancebernstein L.P. increased its stake in Caleres by 18.1% in the second quarter. Alliancebernstein L.P. now owns 2,782,158 shares of the company’s stock worth $67,356,000 after buying an additional 426,251 shares in the last quarter. Royce & Associates LP increased its stake in Caleres by 210.6% in the second quarter. Royce & Associates LP now owns 604,078 shares of the company’s stock worth $14,625,000 after buying an additional 409,600 shares in the last quarter. Foresters Investment Management Company Inc. purchased a new stake in Caleres during the fourth quarter worth $10,353,000. Finally, Teachers Advisors LLC increased its stake in Caleres by 435.3% in the third quarter. Teachers Advisors LLC now owns 360,486 shares of the company’s stock worth $9,117,000 after buying an additional 293,148 shares in the last quarter. 85.29% of the stock is owned by institutional investors.
Caleres Company Profile
Caleres, Inc, formerly Brown Shoe Company, 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. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.