Caleres (NYSE:CAL) Upgraded to Buy by StockNews.com

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

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

Caleres Price Performance

CAL opened at $32.95 on Thursday. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 6.98 and a beta of 1.93. Caleres has a 1-year low of $24.71 and a 1-year high of $44.51. The business has a 50 day moving average price of $37.51 and a two-hundred day moving average price of $36.74.

Caleres (NYSE:CAL) last released its earnings results on Thursday, September 12th. The textile maker reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.37). The firm had revenue of $683.30 million during 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 business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. Equities analysts expect that Caleres will post 4.4 EPS for the current fiscal year.

Insider Buying and Selling at Caleres

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

Institutional Trading of Caleres

Large investors have recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in shares of Caleres during the second quarter worth $40,000. SG Americas Securities LLC purchased a new stake in shares of Caleres during the first quarter worth $117,000. Shell Asset Management Co. purchased a new stake in shares of Caleres during the first quarter worth $156,000. Assetmark Inc. raised its holdings in shares of Caleres by 7.9% during the fourth quarter. Assetmark Inc. now owns 6,000 shares of the textile maker’s stock worth $184,000 after acquiring an additional 440 shares in the last quarter. Finally, BlackDiamond Wealth Management LLC purchased a new stake in shares of Caleres during the fourth quarter worth $218,000. 98.44% of the stock is owned by institutional investors and hedge funds.

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.