Macquarie Increases Caleres (CAL) Price Target to $42.00

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Caleres (NYSE:CAL) had its price target hoisted by investment analysts at Macquarie from $38.00 to $42.00 in a report released on Wednesday. The firm currently has an “outperform” rating on the textile maker’s stock. Macquarie’s price target would suggest a potential upside of 12.03% from the stock’s previous close.

CAL has been the subject of a number of other reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Caleres in a research note on Thursday, June 28th. Zacks Investment Research raised shares of Caleres from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a research note on Friday, August 31st. ValuEngine raised shares of Caleres from a “hold” rating to a “buy” rating in a research note on Wednesday, August 8th. Loop Capital set a $37.00 price objective on shares of Caleres and gave the company a “hold” rating in a research note on Tuesday. Finally, Wedbush upped their price objective on shares of Caleres from $38.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, August 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $39.50.

Shares of NYSE:CAL traded down $2.87 during trading hours on Wednesday, hitting $37.49. 49,082 shares of the company’s stock traded hands, compared to its average volume of 280,934. Caleres has a 52 week low of $26.54 and a 52 week high of $41.09. The company has a current ratio of 1.97, a quick ratio of 0.65 and a debt-to-equity ratio of 0.28. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 17.30 and a beta of 0.89.

Caleres (NYSE:CAL) last posted its quarterly earnings data on Tuesday, September 4th. The textile maker reported $0.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.02. Caleres had a net margin of 3.21% and a return on equity of 13.70%. The company had revenue of $706.61 million during the quarter, compared to analyst estimates of $709.15 million. During the same quarter last year, the firm posted $0.48 EPS. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. research analysts forecast that Caleres will post 2.5 earnings per share for the current year.

In other news, CEO Diane M. Sullivan sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 28th. The shares were sold at an average price of $38.28, for a total value of $765,600.00. Following the completion of the sale, the chief executive officer now directly owns 473,534 shares of the company’s stock, valued at $18,126,881.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas Koch sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The stock was sold at an average price of $38.00, for a total transaction of $380,000.00. Following the completion of the sale, the insider now directly owns 97,501 shares of the company’s stock, valued at $3,705,038. The disclosure for this sale can be found here. 5.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CAL. Franklin Resources Inc. raised its position in Caleres by 61.4% during the first quarter. Franklin Resources Inc. now owns 2,200,691 shares of the textile maker’s stock valued at $73,943,000 after acquiring an additional 836,772 shares in the last quarter. Macquarie Group Ltd. bought a new position in Caleres during the second quarter valued at approximately $26,935,000. BlackRock Inc. raised its position in Caleres by 8.3% during the second quarter. BlackRock Inc. now owns 5,880,651 shares of the textile maker’s stock valued at $202,236,000 after acquiring an additional 451,535 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in Caleres during the second quarter valued at approximately $12,885,000. Finally, Millennium Management LLC raised its position in Caleres by 526.1% during the first quarter. Millennium Management LLC now owns 406,327 shares of the textile maker’s stock valued at $13,653,000 after acquiring an additional 341,428 shares in the last quarter. 90.70% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Caleres (NYSE:CAL)

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