Caleres (NYSE:CAL) Rating Increased to Hold at Zacks Research

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

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Caleres in a report on Wednesday, January 21st. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $14.00.

Caleres Stock Performance

NYSE CAL opened at $11.82 on Thursday. The firm has a market capitalization of $400.80 million, a PE ratio of 18.77 and a beta of 0.64. Caleres has a one year low of $9.54 and a one year high of $18.27. The company has a 50-day simple moving average of $12.78 and a 200-day simple moving average of $13.05.

Caleres (NYSE:CAL) last issued its quarterly earnings data on Tuesday, December 9th. The textile maker reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.08). The company had revenue of $790.05 million for the quarter, compared to the consensus estimate of $768.59 million. Caleres had a return on equity of 8.62% and a net margin of 0.78%.Caleres’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.23 earnings per share. Caleres has set its FY 2025 guidance at 0.550-0.60 EPS. Equities analysts forecast that Caleres will post 3.23 earnings per share for the current year.

Institutional Trading of Caleres

Hedge funds and other institutional investors have recently modified their holdings of the business. Osaic Holdings Inc. increased its position in Caleres by 1,662.8% in the 2nd quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock worth $25,000 after purchasing an additional 1,879 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of Caleres during the 4th quarter worth $25,000. Quadrant Capital Group LLC grew its stake in Caleres by 1,032.4% in the 4th quarter. Quadrant Capital Group LLC now owns 2,412 shares of the textile maker’s stock valued at $29,000 after buying an additional 2,199 shares during the last quarter. CWM LLC raised its holdings in Caleres by 624.9% in the 3rd quarter. CWM LLC now owns 3,639 shares of the textile maker’s stock worth $47,000 after acquiring an additional 3,137 shares during the period. Finally, State of Wyoming acquired a new position in Caleres during the 3rd quarter worth $56,000. Institutional investors and hedge funds own 98.44% of the company’s stock.

About Caleres

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.