Caleres (NYSE:CAL) Stock Rating Upgraded by Zacks Research

Caleres (NYSE:CAL) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Other equities analysts also recently issued research reports about the company. Weiss Ratings upgraded Caleres from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, May 4th. Seaport Research Partners increased their price objective on Caleres from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Caleres currently has a consensus rating of “Hold” and an average price target of $14.00.

Caleres Stock Performance

NYSE:CAL opened at $13.57 on Thursday. The stock’s 50 day moving average price is $11.86 and its 200 day moving average price is $12.13. Caleres has a 52 week low of $8.80 and a 52 week high of $16.85. The company has a market capitalization of $457.85 million, a P/E ratio of -61.68 and a beta of 0.71.

Caleres (NYSE:CAL) last released its quarterly earnings data on Thursday, March 19th. The textile maker reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. Caleres had a positive return on equity of 6.49% and a negative net margin of 0.24%.The firm had revenue of $695.06 million for the quarter, compared to the consensus estimate of $688.43 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts forecast that Caleres will post 1.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Caleres

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CAL. Osaic Holdings Inc. grew its holdings in Caleres by 1,662.8% during the second quarter. Osaic Holdings Inc. now owns 1,992 shares of the textile maker’s stock valued at $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 in the fourth quarter valued at approximately $25,000. Quadrant Capital Group LLC boosted its position in shares of Caleres by 1,032.4% in the fourth quarter. Quadrant Capital Group LLC now owns 2,412 shares of the textile maker’s stock valued at $29,000 after acquiring an additional 2,199 shares during the period. State of Wyoming bought a new stake in shares of Caleres in the third quarter valued at approximately $56,000. Finally, New York State Common Retirement Fund boosted its position in shares of Caleres by 171.8% in the third quarter. New York State Common Retirement Fund now owns 6,487 shares of the textile maker’s stock valued at $85,000 after acquiring an additional 4,100 shares during the period. Institutional investors and hedge funds own 98.44% of the company’s stock.

Caleres Company Profile

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.