Caleres (NYSE:CAL) Stock Rating Upgraded by StockNews.com

Caleres (NYSE:CAL) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

Separately, Loop Capital dropped their price target on Caleres from $45.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, September 13th.

Caleres Price Performance

Shares of NYSE:CAL opened at $33.48 on Thursday. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 7.09 and a beta of 1.93. The company has a 50 day moving average of $37.51 and a 200-day moving average of $36.68. Caleres has a one year low of $24.71 and a one year high of $44.51.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, September 12th. The textile maker reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). The company had revenue of $683.30 million for the quarter, compared to analyst estimates of $723.80 million. Caleres had a return on equity of 27.32% and a net margin of 5.97%. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.98 earnings per share. Equities research analysts anticipate that Caleres will post 4.4 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Diane M. Sullivan sold 17,068 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $35.45, for a total transaction of $605,060.60. Following the transaction, the insider now directly owns 150,449 shares in the company, valued at $5,333,417.05. The sale was disclosed in a filing with the SEC, which is available through this link. In other Caleres news, insider Diane M. Sullivan sold 17,068 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $35.45, for a total transaction of $605,060.60. Following the transaction, the insider now owns 150,449 shares of the company’s stock, valued at $5,333,417.05. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Carla C. Hendra sold 5,349 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $33.07, for a total value of $176,891.43. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Institutional Trading of Caleres

Several hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. grew its holdings in Caleres by 25.6% in the 2nd quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after buying an additional 183,594 shares in the last quarter. Quantedge Capital Pte Ltd acquired a new position in shares of Caleres in the fourth quarter valued at about $3,697,000. Millennium Management LLC increased its position in Caleres by 58.8% during the second quarter. Millennium Management LLC now owns 221,082 shares of the textile maker’s stock worth $7,428,000 after acquiring an additional 81,836 shares during the period. Great Lakes Advisors LLC raised its stake in Caleres by 69.6% in the 2nd quarter. Great Lakes Advisors LLC now owns 193,841 shares of the textile maker’s stock worth $6,513,000 after purchasing an additional 79,581 shares in the last quarter. Finally, Leuthold Group LLC bought a new stake in Caleres in the 2nd quarter valued at about $2,391,000. Institutional investors own 98.44% of the company’s stock.

Caleres Company Profile

Caleres, Inc engages in the retail and wholesale of footwear business in the United States, Canada, East Asia, and internationally. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label athletic, casual, and dress footwear products. The company provides brand name athletic, casual, and dress shoes, including Nike, Skechers, adidas, Vans, Crocs, Converse, Puma, Birkenstock, New Balance, Under Armour, Dr.