Caleres (CAL) Rating Increased to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Caleres (NYSE:CAL) from a buy rating to a strong-buy rating in a report released on Monday.

Other equities research analysts have also issued research reports about the company. Buckingham Research restated a buy rating and set a $38.00 price objective (up previously from $37.00) on shares of Caleres in a research report on Wednesday, March 14th. Zacks Investment Research upgraded Caleres from a hold rating to a buy rating and set a $33.00 price objective on the stock in a research report on Friday, February 2nd. Susquehanna Bancshares restated a neutral rating and set a $33.00 price objective (up previously from $32.00) on shares of Caleres in a research report on Tuesday, January 23rd. UBS lowered Caleres from a positive rating to a neutral rating in a research report on Tuesday, January 23rd. Finally, Wedbush reiterated an outperform rating and issued a $35.00 price target on shares of Caleres in a research report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $35.20.

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CAL stock traded up $0.36 during midday trading on Monday, reaching $35.73. 174,983 shares of the stock were exchanged, compared to its average volume of 331,100. The firm has a market capitalization of $1,475.47, a P/E ratio of 15.89, a P/E/G ratio of 1.26 and a beta of 0.94. Caleres has a 52 week low of $22.39 and a 52 week high of $36.00. The company has a quick ratio of 0.64, a current ratio of 1.97 and a debt-to-equity ratio of 0.27.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Tuesday, March 13th. The textile maker reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The business had revenue of $702.50 million for 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. equities research analysts expect that Caleres will post 2.48 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 19th were given a $0.07 dividend. The ex-dividend date was Friday, March 16th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.78%. Caleres’s dividend payout ratio (DPR) is presently 12.96%.

In other Caleres news, insider Daniel R. Freidman sold 2,000 shares of the company’s stock in a transaction dated Monday, March 19th. The stock was sold at an average price of $31.81, for a total value of $63,620.00. Following the sale, the insider now owns 91,733 shares in the company, valued at approximately $2,918,026.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel R. Freidman sold 10,000 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $28.45, for a total value of $284,500.00. Following the completion of the sale, the insider now owns 79,435 shares in the company, valued at approximately $2,259,925.75. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mosaic Family Wealth LLC bought a new stake in shares of Caleres in the 4th quarter valued at about $140,000. Xact Kapitalforvaltning AB bought a new stake in shares of Caleres in the 4th quarter valued at about $201,000. Amalgamated Bank bought a new stake in shares of Caleres during the 4th quarter valued at about $204,000. Quantitative Systematic Strategies LLC bought a new stake in shares of Caleres during the 4th quarter valued at about $234,000. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Caleres by 440.0% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 10,362 shares of the textile maker’s stock valued at $316,000 after purchasing an additional 8,443 shares in the last quarter. Hedge funds and other institutional investors own 89.68% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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