Caleres (NYSE:CAL) Rating Increased to Buy at StockNews.com

Caleres (NYSE:CAL) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Separately, Loop Capital cut their target price on Caleres from $45.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, September 13th.

Caleres Price Performance

NYSE CAL opened at $32.95 on Thursday. Caleres has a fifty-two week low of $24.71 and a fifty-two week high of $44.51. The stock’s 50-day moving average is $37.51 and its two-hundred day moving average is $36.74. The firm has a market cap of $1.16 billion, a P/E ratio of 6.98 and a beta of 1.93.

Caleres (NYSE:CAL) last posted its earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.37). Caleres had a net margin of 5.97% and a return on equity of 27.32%. The company had revenue of $683.30 million for the quarter, compared to the consensus estimate of $723.80 million. During the same quarter last year, the business earned $0.98 earnings per share. Caleres’s quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts expect that Caleres will post 4.4 EPS for the current year.

Insider Activity

In other news, Director Carla C. Hendra sold 5,349 shares of the firm’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $33.07, for a total value of $176,891.43. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Carla C. Hendra sold 5,349 shares of Caleres stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $33.07, for a total transaction of $176,891.43. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Diane M. Sullivan sold 17,068 shares of Caleres stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $35.45, for a total value of $605,060.60. Following the sale, the insider now directly owns 150,449 shares in the company, valued at $5,333,417.05. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Caleres

Institutional investors have recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in Caleres by 25.6% during the second quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock worth $30,302,000 after purchasing an additional 183,594 shares during the period. Quantedge Capital Pte Ltd bought a new position in Caleres during the fourth quarter worth about $3,697,000. Millennium Management LLC lifted its stake in Caleres by 58.8% during the second quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock worth $7,428,000 after purchasing an additional 81,836 shares during the period. Great Lakes Advisors LLC lifted its stake in Caleres by 69.6% during the second quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock worth $6,513,000 after purchasing an additional 79,581 shares during the period. Finally, Leuthold Group LLC bought a new position in Caleres during the second quarter worth about $2,391,000. 98.44% of the stock is owned by institutional investors and hedge funds.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.