Analysts Set Caleres Inc (NYSE:CAL) Price Target at $14.75

Shares of Caleres Inc (NYSE:CAL) have been given a consensus rating of “Buy” by the seven research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $14.75.

Several equities research analysts have issued reports on CAL shares. Susquehanna Bancshares raised Caleres from a “negative” rating to a “positive” rating and set a $7.00 price target for the company in a research note on Friday, July 10th. Needham & Company LLC started coverage on Caleres in a research note on Tuesday, June 2nd. They set a “hold” rating for the company. Loop Capital lifted their price target on Caleres from $15.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. They noted that the move was a valuation call. ValuEngine raised Caleres from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 7th. Finally, Zacks Investment Research raised Caleres from a “sell” rating to a “hold” rating and set a $12.00 price target for the company in a research note on Wednesday, September 2nd.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CAL. First Trust Advisors LP increased its holdings in shares of Caleres by 28.8% in the first quarter. First Trust Advisors LP now owns 58,242 shares of the textile maker’s stock worth $1,438,000 after buying an additional 13,035 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Caleres by 123.4% in the first quarter. Envestnet Asset Management Inc. now owns 238,195 shares of the textile maker’s stock worth $1,239,000 after buying an additional 131,560 shares during the period. Texas Permanent School Fund increased its holdings in Caleres by 24.3% during the 1st quarter. Texas Permanent School Fund now owns 34,612 shares of the textile maker’s stock valued at $180,000 after purchasing an additional 6,763 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in Caleres by 32.3% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 11,390 shares of the textile maker’s stock valued at $59,000 after purchasing an additional 2,783 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. purchased a new position in Caleres during the 1st quarter valued at about $104,000. Hedge funds and other institutional investors own 78.88% of the company’s stock.

Shares of Caleres stock traded up $0.78 during trading hours on Wednesday, reaching $11.26. The company had a trading volume of 1,385,785 shares, compared to its average volume of 956,905. Caleres has a one year low of $3.12 and a one year high of $24.86. The business has a fifty day simple moving average of $7.74 and a 200 day simple moving average of $7.29. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.91 and a quick ratio of 0.35. The firm has a market cap of $426.89 million, a PE ratio of -1.24 and a beta of 2.14.

Caleres (NYSE:CAL) last posted its quarterly earnings results on Tuesday, September 1st. The textile maker reported ($0.57) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.02) by $0.45. Caleres had a negative return on equity of 5.67% and a negative net margin of 14.57%. The firm had revenue of $501.40 million during the quarter, compared to analyst estimates of $450.11 million. During the same period last year, the company earned $0.62 earnings per share. The business’s revenue for the quarter was down 33.4% on a year-over-year basis. On average, research analysts forecast that Caleres will post -1.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Friday, September 11th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.28 annualized dividend and a dividend yield of 2.49%. Caleres’s dividend payout ratio is currently 13.33%.

About Caleres

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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