Loop Capital Issues Pessimistic Forecast for Caleres (NYSE:CAL) Stock Price

Caleres (NYSE:CAL) had its price objective decreased by equities research analysts at Loop Capital from $30.00 to $25.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the textile maker’s stock. Loop Capital’s price objective would indicate a potential downside of 8.02% from the company’s current price.

Separately, StockNews.com lowered Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Price Performance

NYSE:CAL opened at $27.18 on Friday. Caleres has a 1-year low of $26.05 and a 1-year high of $44.51. The firm has a 50 day simple moving average of $31.07 and a 200-day simple moving average of $34.17. The firm has a market cap of $956.74 million, a PE ratio of 6.05 and a beta of 1.92.

Caleres (NYSE:CAL) last issued its quarterly earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.15). Caleres had a net margin of 5.84% and a return on equity of 24.63%. The business had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. During the same quarter last year, the firm posted $1.37 earnings per share. The company’s revenue was down 2.8% on a year-over-year basis. As a group, sell-side analysts expect that Caleres will post 3.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Caleres during the second quarter worth approximately $40,000. Creative Planning purchased a new stake in Caleres during the 3rd quarter worth $204,000. Y Intercept Hong Kong Ltd acquired a new stake in Caleres in the 3rd quarter valued at $228,000. AXA S.A. raised its position in Caleres by 28.5% in the second quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock valued at $233,000 after purchasing an additional 1,540 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Caleres by 31,308.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 7,224 shares of the textile maker’s stock worth $243,000 after purchasing an additional 7,201 shares in the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

Caleres Company Profile

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.