Caleres, Inc. (CAL) Stock Rating Lowered by 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. “

Other equities analysts have also issued reports about the company. TheStreet raised Caleres from a “c+” rating to a “b-” rating in a research note on Thursday, July 27th. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $31.00 price target on shares of Caleres in a research note on Tuesday, August 29th. BidaskClub raised Caleres from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, UBS AG upgraded Caleres from a “neutral” rating to a “positive” rating in a research report on Tuesday, May 30th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $31.40.

Caleres (NYSE CAL) traded up 1.14% during mid-day trading on Tuesday, hitting $28.27. The company had a trading volume of 162,067 shares. The firm has a market cap of $1.21 billion, a P/E ratio of 20.11 and a beta of 1.06. Caleres has a 52-week low of $22.39 and a 52-week high of $36.61. The stock’s 50 day moving average price is $26.06 and its 200 day moving average price is $27.09.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Tuesday, August 29th. The textile maker reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. The firm had revenue of $677.00 million during the quarter, compared to analyst estimates of $668.85 million. Caleres had a return on equity of 13.80% and a net margin of 2.26%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. On average, equities research analysts predict that Caleres will post $2.18 EPS for the current fiscal year.

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Several large investors have recently made changes to their positions in CAL. BlackRock Inc. lifted its position in shares of Caleres by 45,530.3% during the 1st quarter. BlackRock Inc. now owns 5,242,013 shares of the textile maker’s stock valued at $138,493,000 after acquiring an additional 5,230,525 shares during the last quarter. Alliancebernstein L.P. lifted its position in shares of Caleres by 13.6% during the 2nd quarter. Alliancebernstein L.P. now owns 3,164,709 shares of the textile maker’s stock valued at $87,916,000 after acquiring an additional 379,868 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Caleres by 11.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,588,016 shares of the textile maker’s stock valued at $99,676,000 after acquiring an additional 367,654 shares during the last quarter. Schroder Investment Management Group acquired a new stake in shares of Caleres during the 2nd quarter valued at $6,584,000. Finally, Vanguard Group Inc. lifted its position in shares of Caleres by 6.0% during the 1st quarter. Vanguard Group Inc. now owns 3,783,362 shares of the textile maker’s stock valued at $99,956,000 after acquiring an additional 212,710 shares during the last quarter. Institutional investors own 86.31% of the company’s stock.

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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