Caleres (NYSE:CAL) had its target price boosted by analysts at Wedbush from $38.00 to $42.00 in a research note issued to investors on Wednesday, August 29th. The brokerage presently has an “outperform” rating on the textile maker’s stock. Wedbush’s price target suggests a potential upside of 12.15% from the stock’s current price. Wedbush also issued estimates for Caleres’ Q2 2019 earnings at $0.57 EPS, Q3 2019 earnings at $0.92 EPS, FY2019 earnings at $2.50 EPS and FY2020 earnings at $2.69 EPS.
CAL has been the subject of several other research reports. Needham & Company LLC reissued a “hold” rating on shares of Caleres in a report on Thursday, June 28th. Zacks Investment Research raised Caleres from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Tuesday, May 8th. ValuEngine lowered Caleres from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, Loop Capital began coverage on Caleres in a report on Thursday, June 7th. They set a “hold” rating and a $37.00 price target for the company. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $39.50.
NYSE:CAL traded down $2.91 during mid-day trading on Wednesday, hitting $37.45. 49,596 shares of the company traded hands, compared to its average volume of 280,934. Caleres has a one year low of $26.54 and a one year high of $41.09. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.65 and a current ratio of 1.97. The firm has a market capitalization of $1.75 billion, a PE ratio of 17.30 and a beta of 0.89.
Caleres (NYSE:CAL) last released its quarterly earnings results on Tuesday, September 4th. The textile maker reported $0.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Caleres had a return on equity of 13.70% and a net margin of 3.21%. The business had revenue of $706.61 million during the quarter, compared to analyst estimates of $709.15 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. Caleres’s revenue for the quarter was up 4.4% on a year-over-year basis. equities analysts forecast that Caleres will post 2.5 earnings per share for the current fiscal year.
In other news, insider Douglas Koch sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $38.00, for a total value of $380,000.00. Following the completion of the transaction, the insider now owns 97,501 shares of the company’s stock, valued at $3,705,038. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Diane M. Sullivan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $38.28, for a total value of $765,600.00. Following the completion of the transaction, the chief executive officer now directly owns 473,534 shares of the company’s stock, valued at approximately $18,126,881.52. The disclosure for this sale can be found here. Corporate insiders own 5.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Caleres in the second quarter worth about $142,000. Robeco Institutional Asset Management B.V. bought a new position in shares of Caleres in the first quarter worth about $247,000. Verition Fund Management LLC bought a new position in Caleres during the first quarter valued at approximately $256,000. GSA Capital Partners LLP bought a new position in Caleres during the first quarter valued at approximately $292,000. Finally, AMP Capital Investors Ltd bought a new position in Caleres during the second quarter valued at approximately $299,000. 90.70% of the stock is owned by hedge funds and other institutional investors.
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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