Caleres, Inc. (CAL) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Caleres, Inc. (NYSE:CAL) from a hold rating to a sell rating in a research report released on Thursday morning.

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. “

Several other research analysts have also commented on CAL. Susquehanna Bancshares Inc reissued a buy rating and issued a $32.00 price objective on shares of Caleres in a research note on Wednesday, November 22nd. BidaskClub lowered shares of Caleres from a hold rating to a sell rating in a research note on Friday, August 18th. Wedbush reissued an outperform rating and issued a $32.00 price objective on shares of Caleres in a research note on Wednesday, November 22nd. Macquarie reiterated an outperform rating and issued a $37.00 price target on shares of Caleres in a research note on Sunday, October 1st. Finally, TheStreet upgraded shares of Caleres from a c+ rating to a b- rating in a research note on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $33.17.

Caleres (NYSE CAL) opened at $29.83 on Thursday. The company has a quick ratio of 0.38, a current ratio of 1.93 and a debt-to-equity ratio of 0.29. Caleres has a 12 month low of $22.39 and a 12 month high of $36.61. The company has a market cap of $1,281.68, a P/E ratio of 14.84, a PEG ratio of 1.26 and a beta of 1.04.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Tuesday, November 21st. The textile maker reported $0.80 EPS for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $785.75 million. During the same period in the previous year, the business posted $0.81 EPS. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. sell-side analysts expect that Caleres will post 2.15 EPS for the current year.

In related news, SVP Douglas Koch sold 33,400 shares of Caleres stock in a transaction that occurred on Monday, September 25th. The shares were sold at an average price of $30.03, for a total value of $1,003,002.00. Following the completion of the transaction, the senior vice president now owns 103,837 shares in the company, valued at $3,118,225.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.20% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of CAL. Alps Advisors Inc. lifted its position in shares of Caleres by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 15,613 shares of the textile maker’s stock worth $434,000 after buying an additional 41 shares during the last quarter. US Bancorp DE lifted its position in shares of Caleres by 0.5% during the 2nd quarter. US Bancorp DE now owns 10,274 shares of the textile maker’s stock worth $285,000 after buying an additional 49 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Caleres by 0.4% during the 2nd quarter. Arizona State Retirement System now owns 22,442 shares of the textile maker’s stock worth $623,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund lifted its position in shares of Caleres by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 31,422 shares of the textile maker’s stock worth $873,000 after buying an additional 331 shares during the last quarter. Finally, Strs Ohio lifted its position in shares of Caleres by 3.0% during the 2nd quarter. Strs Ohio now owns 34,300 shares of the textile maker’s stock worth $952,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 87.82% of the company’s stock.

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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.

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