Caleres (NYSE:CAL) Stock Rating Upgraded by Zacks Research

Caleres (NYSE:CAL) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings raised Caleres from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Seaport Research Partners raised their target price on Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.00.

Caleres Trading Up 3.1%

CAL opened at $13.57 on Thursday. Caleres has a 1-year low of $8.80 and a 1-year high of $16.85. The stock has a market capitalization of $457.85 million, a price-to-earnings ratio of -61.68 and a beta of 0.71. The business has a 50 day moving average of $11.86 and a 200-day moving average of $12.13.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) earnings per share for the quarter, beating the consensus estimate of ($0.40) by $0.04. Caleres had a positive return on equity of 6.49% and a negative net margin of 0.24%.The company had revenue of $695.06 million during the quarter, compared to analysts’ expectations of $688.43 million. During the same period in the prior year, the business earned $0.33 earnings per share. Caleres’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts predict that Caleres will post 1.57 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its position in Caleres by 1,662.8% in the second quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,879 shares during the period. Global Retirement Partners LLC bought a new position in Caleres in the fourth quarter worth $25,000. Quadrant Capital Group LLC lifted its position in Caleres by 1,032.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,412 shares of the textile maker’s stock worth $29,000 after purchasing an additional 2,199 shares during the period. State of Wyoming bought a new position in Caleres in the third quarter worth $56,000. Finally, New York State Common Retirement Fund lifted its position in Caleres by 171.8% in the third quarter. New York State Common Retirement Fund now owns 6,487 shares of the textile maker’s stock worth $85,000 after purchasing an additional 4,100 shares during the period. 98.44% of the stock is owned by institutional investors.

Caleres Company Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.