Caleres (CAL) Downgraded to Buy at ValuEngine

Caleres (NYSE:CAL) was downgraded by stock analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday, May 2nd.

Several other analysts have also weighed in on CAL. Zacks Investment Research lowered Caleres from a “hold” rating to a “sell” rating in a report on Monday, March 12th. Wedbush reiterated an “outperform” rating and issued a $35.00 target price on shares of Caleres in a research note on Wednesday, March 14th. Buckingham Research reiterated a “buy” rating and issued a $38.00 target price (up previously from $37.00) on shares of Caleres in a research note on Wednesday, March 14th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $33.00 target price (up previously from $32.00) on shares of Caleres in a research note on Tuesday, January 23rd. Finally, UBS downgraded Caleres from a “positive” rating to a “neutral” rating in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Caleres presently has an average rating of “Buy” and an average target price of $36.00.

Caleres opened at $35.85 on Wednesday, according to MarketBeat. Caleres has a 1 year low of $35.13 and a 1 year high of $36.36. The company has a quick ratio of 0.64, a current ratio of 1.97 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $1.56 billion, a PE ratio of 16.60, a P/E/G ratio of 1.32 and a beta of 0.94.

Caleres (NYSE:CAL) last issued its earnings results on Tuesday, March 13th. The textile maker reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.04. The business had revenue of $702.50 million during the quarter, compared to analyst estimates of $695.61 million. Caleres had a return on equity of 14.01% and a net margin of 3.13%. Caleres’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. sell-side analysts forecast that Caleres will post 2.48 earnings per share for the current fiscal year.

In related news, CEO Diane M. Sullivan sold 17,399 shares of Caleres stock in a transaction that occurred on Friday, April 6th. The stock was sold at an average price of $35.14, for a total transaction of $611,400.86. Following the completion of the transaction, the chief executive officer now directly owns 711,000 shares in the company, valued at $24,984,540. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel R. Freidman sold 2,000 shares of Caleres stock in a transaction that occurred on Monday, March 19th. The shares were sold at an average price of $31.81, for a total value of $63,620.00. Following the transaction, the insider now owns 91,733 shares of the company’s stock, valued at $2,918,026.73. The disclosure for this sale can be found here. In the last three months, insiders sold 54,089 shares of company stock valued at $1,880,878. Corporate insiders own 5.60% of the company’s stock.

Large investors have recently modified their holdings of the company. Mosaic Family Wealth LLC acquired a new stake in shares of Caleres in the fourth quarter worth approximately $140,000. Xact Kapitalforvaltning AB acquired a new position in Caleres during the fourth quarter worth $201,000. Amalgamated Bank acquired a new position in Caleres during the fourth quarter worth $204,000. Quantitative Systematic Strategies LLC acquired a new position in Caleres during the fourth quarter worth $234,000. Finally, Robeco Institutional Asset Management B.V. purchased a new stake in Caleres in the first quarter valued at $247,000. 88.45% of the stock is currently owned by hedge funds and other institutional investors.

About Caleres

Caleres, Inc, a footwear company, retails and wholesales footwear. The company operates through Famous Footwear and Brand Portfolio segments. It offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children. The company operates retail shoe stores primarily under the Famous Footwear and Naturalizer names, which offer brand-name athletic, casual, and dress shoes, including company-owned and licensed brands, such as LifeStride, Dr.

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Analyst Recommendations for Caleres (NYSE:CAL)

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