Zacks Research Upgrades Caleres (NYSE:CAL) to Strong-Buy

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

Several other research analysts have also recently issued reports on 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 lifted their target price on Caleres from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Caleres presently has a consensus rating of “Hold” and an average price target of $14.00.

Caleres Stock Performance

Shares of CAL stock opened at $13.57 on Thursday. The company has a market cap of $457.85 million, a P/E ratio of -61.68 and a beta of 0.71. The stock has a 50 day simple moving average of $11.86 and a two-hundred day simple moving average of $12.13. Caleres has a fifty-two week low of $8.80 and a fifty-two week high of $16.85.

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

Institutional Trading of Caleres

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its position in Caleres by 56,997.9% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,836,841 shares of the textile maker’s stock worth $22,354,000 after acquiring an additional 1,833,624 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Caleres by 120.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,072,550 shares of the textile maker’s stock worth $13,986,000 after acquiring an additional 586,020 shares during the last quarter. Federated Hermes Inc. grew its position in Caleres by 86.3% during the 4th quarter. Federated Hermes Inc. now owns 937,391 shares of the textile maker’s stock worth $11,408,000 after acquiring an additional 434,269 shares during the last quarter. Renaissance Technologies LLC bought a new position in Caleres during the 4th quarter worth approximately $4,338,000. Finally, Paradigm Capital Management Inc. NY grew its position in Caleres by 39.1% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 911,599 shares of the textile maker’s stock worth $11,094,000 after acquiring an additional 256,155 shares during the last quarter. 98.44% of the stock is currently 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.