Loop Capital Lowers Caleres (NYSE:CAL) Price Target to $25.00

Caleres (NYSE:CAL) had its target price cut by equities research analysts at Loop Capital from $30.00 to $25.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the textile maker’s stock. Loop Capital’s target price would indicate a potential downside of 8.02% from the company’s current price.

Separately, StockNews.com downgraded Caleres from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd.

Caleres Stock Up 2.3 %

Shares of NYSE:CAL opened at $27.18 on Friday. Caleres has a fifty-two week low of $26.05 and a fifty-two week high of $44.51. The firm’s 50-day simple moving average is $31.07 and its 200-day simple moving average is $34.17. The company has a market cap of $956.74 million, a price-to-earnings ratio of 6.05 and a beta of 1.92.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, December 5th. The textile maker reported $1.23 earnings per share for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The business had revenue of $740.90 million during the quarter, compared to analysts’ expectations of $751.35 million. Caleres had a net margin of 5.84% and a return on equity of 24.63%. Caleres’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.37 EPS. On average, research analysts forecast that Caleres will post 3.5 EPS for the current year.

Hedge Funds Weigh In On Caleres

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in Caleres by 1.7% in the 3rd quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock valued at $908,000 after acquiring an additional 479 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Caleres by 3.6% in the third quarter. Geode Capital Management LLC now owns 792,057 shares of the textile maker’s stock valued at $26,183,000 after purchasing an additional 27,291 shares in the last quarter. Barclays PLC grew its position in shares of Caleres by 108.8% in the third quarter. Barclays PLC now owns 55,776 shares of the textile maker’s stock valued at $1,843,000 after purchasing an additional 29,057 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Caleres during the 3rd quarter worth approximately $228,000. Finally, State Street Corp raised its position in shares of Caleres by 3.1% during the 3rd quarter. State Street Corp now owns 1,519,912 shares of the textile maker’s stock worth $50,233,000 after purchasing an additional 46,230 shares during the last quarter. 98.44% of the stock is owned by institutional investors and hedge funds.

About Caleres

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.