Caleres (CAL) Price Target Cut to $26.00 by Analysts at Loop Capital

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Caleres (NYSE:CAL) had its price target cut by research analysts at Loop Capital to $26.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has a “hold” rating on the textile maker’s stock. Loop Capital’s target price indicates a potential upside of 10.59% from the company’s previous close.

Several other research firms have also issued reports on CAL. Zacks Investment Research lowered shares of Caleres from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 27th. Wedbush restated an “outperform” rating on shares of Caleres in a research report on Tuesday, March 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $37.75.

Shares of CAL opened at $23.51 on Friday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 10.64 and a beta of 0.76. Caleres has a one year low of $22.95 and a one year high of $41.09. The company has a current ratio of 1.19, a quick ratio of 0.39 and a debt-to-equity ratio of 0.26.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, March 21st. The textile maker reported $0.38 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.07). The firm had revenue of $720.26 million during the quarter, compared to the consensus estimate of $738.12 million. Caleres had a positive return on equity of 12.79% and a negative net margin of 0.19%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.48 EPS. On average, research analysts expect that Caleres will post 2.55 EPS for the current fiscal year.

Caleres announced that its board has initiated a stock repurchase program on Friday, December 14th that authorizes the company to repurchase 2,500,000 outstanding shares. This repurchase authorization authorizes the textile maker to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Caleres news, insider Daniel R. Freidman sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 21st. The shares were sold at an average price of $30.00, for a total value of $150,000.00. Following the sale, the insider now directly owns 74,046 shares in the company, valued at approximately $2,221,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of CAL. First Hawaiian Bank acquired a new stake in shares of Caleres during the 4th quarter valued at about $25,000. Riverhead Capital Management LLC boosted its position in shares of Caleres by 36.9% during the 3rd quarter. Riverhead Capital Management LLC now owns 5,196 shares of the textile maker’s stock valued at $186,000 after acquiring an additional 1,400 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Caleres by 121.5% during the 3rd quarter. Pacer Advisors Inc. now owns 7,704 shares of the textile maker’s stock valued at $276,000 after acquiring an additional 4,226 shares in the last quarter. Rafferty Asset Management LLC acquired a new stake in shares of Caleres during the 3rd quarter valued at about $288,000. Finally, Lenox Wealth Management Inc. boosted its position in shares of Caleres by 3,574.6% during the 4th quarter. Lenox Wealth Management Inc. now owns 10,252 shares of the textile maker’s stock valued at $286,000 after acquiring an additional 9,973 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

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