Caleres, Inc. (CAL) Rating Lowered to Sell at Zacks Investment Research

Caleres, Inc. (CAL) Rating Lowered to Sell at Zacks Investment Research

Caleres, Inc. (NYSE:CAL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

According to Zacks, “Caleres, Inc. is a footwear retailer and wholesaler. The Company is involved in the operation of retail shoe stores and e-commerce Websites as well as the design, sourcing and marketing of footwear for women and men. Its operating segment consists of Famous Footwear and Brand Portfolio. The company brands include Nike, Skechers, Bearpaw, Converse, Vans, New Balance, adidas, Asics, Sperry and Sof Sole, LifeStride, Dr. Scholl’s, Fergalicious, Naturalizer and Carlos. Caleres, Inc., formerly known as Brown Shoe Company, Inc., is headquartered in St. Louis, Missouri. “

A number of other brokerages have also weighed in on CAL. Jefferies Group LLC reaffirmed a “hold” rating and set a $27.00 target price (up from $24.00) on shares of Caleres in a research report on Wednesday, November 23rd. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $25.00 target price on shares of Caleres in a research report on Thursday, December 8th. Finally, CL King lowered Caleres from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $29.50.

Shares of Caleres (NYSE:CAL) opened at 30.66 on Thursday. The stock has a market capitalization of $1.32 billion, a PE ratio of 15.90 and a beta of 0.61. Caleres has a 52-week low of $21.27 and a 52-week high of $36.61. The company’s 50 day moving average price is $32.02 and its 200 day moving average price is $28.12.

Caleres (NYSE:CAL) last issued its earnings results on Tuesday, November 22nd. The company reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.01. The business earned $732.20 million during the quarter, compared to analyst estimates of $734.09 million. Caleres had a return on equity of 13.54% and a net margin of 3.28%. Caleres’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 EPS. On average, equities research analysts anticipate that Caleres will post $2.06 EPS for the current year.

In other news, insider Richard M. Ausick sold 15,000 shares of the business’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $34.74, for a total value of $521,100.00. Following the completion of the transaction, the insider now directly owns 93,834 shares of the company’s stock, valued at approximately $3,259,793.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Daniel R. Freidman sold 2,000 shares of the business’s stock in a transaction on Tuesday, January 10th. The stock was sold at an average price of $32.00, for a total value of $64,000.00. Following the completion of the transaction, the insider now directly owns 84,373 shares of the company’s stock, valued at $2,699,936. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,630 shares of company stock valued at $1,838,608. Corporate insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Fund Advisors increased its position in shares of Caleres by 8.1% in the third quarter. BlackRock Fund Advisors now owns 3,067,758 shares of the company’s stock valued at $77,584,000 after buying an additional 230,781 shares during the period. Alliancebernstein L.P. increased its position in shares of Caleres by 18.1% in the second quarter. Alliancebernstein L.P. now owns 2,782,158 shares of the company’s stock valued at $67,356,000 after buying an additional 426,251 shares during the period. BlackRock Institutional Trust Company N.A. increased its position in shares of Caleres by 4.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,115,231 shares of the company’s stock valued at $27,000,000 after buying an additional 45,094 shares during the period. Paradigm Capital Management Inc. NY increased its position in shares of Caleres by 5.6% in the third quarter. Paradigm Capital Management Inc. NY now owns 927,250 shares of the company’s stock valued at $23,450,000 after buying an additional 49,550 shares during the period. Finally, Northern Trust Corp increased its position in shares of Caleres by 10.2% in the third quarter. Northern Trust Corp now owns 918,834 shares of the company’s stock valued at $23,237,000 after buying an additional 84,847 shares during the period. Hedge funds and other institutional investors own 85.43% of the company’s stock.

About Caleres

Caleres, Inc, formerly Brown Shoe Company, Inc, is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites, as well as the design, sourcing and marketing of footwear for women and men. It operates through two segments: Famous Footwear, which includes its Famous Footwear stores and Famous.com, and Brand Portfolio, which offers retailers and consumers a portfolio of brands from its Healthy Living and Contemporary Fashion platforms.

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