Caleres (NYSE:CAL) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Caleres (NYSE:CAL) from a hold rating to a strong-buy rating in a report published on Thursday morning,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Caleres from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Seaport Research Partners boosted their price objective on shares of Caleres from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $14.00.

Caleres Stock Up 3.1%

Shares of NYSE CAL opened at $13.57 on Thursday. The company’s fifty day moving average is $11.86 and its 200-day moving average is $12.13. The stock has a market cap of $457.85 million, a price-to-earnings ratio of -61.68 and a beta of 0.71. Caleres has a twelve month low of $8.80 and a twelve month high of $16.85.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, March 19th. The textile maker reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.04. The company had revenue of $695.06 million for the quarter, compared to analysts’ expectations of $688.43 million. Caleres had a negative net margin of 0.24% and a positive return on equity of 6.49%. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. On average, research analysts anticipate that Caleres will post 1.57 EPS for the current fiscal year.

Caleres Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Thursday, March 26th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Thursday, March 26th. Caleres’s payout ratio is currently -127.27%.

Institutional Investors Weigh In On Caleres

Several institutional investors have recently added to or reduced their stakes in CAL. AQR Capital Management LLC lifted its position in Caleres by 143.2% in the 1st quarter. AQR Capital Management LLC now owns 90,546 shares of the textile maker’s stock valued at $1,560,000 after acquiring an additional 53,320 shares in the last quarter. Empowered Funds LLC lifted its position in Caleres by 4.2% during the 1st quarter. Empowered Funds LLC now owns 162,814 shares of the textile maker’s stock worth $2,805,000 after buying an additional 6,502 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Caleres by 4.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 105,137 shares of the textile maker’s stock worth $1,812,000 after buying an additional 4,175 shares in the last quarter. Franklin Resources Inc. lifted its position in Caleres by 5.6% during the 2nd quarter. Franklin Resources Inc. now owns 18,902 shares of the textile maker’s stock worth $231,000 after buying an additional 1,007 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in Caleres by 2.4% during the 2nd quarter. Rhumbline Advisers now owns 99,677 shares of the textile maker’s stock worth $1,218,000 after buying an additional 2,352 shares in the last quarter. 98.44% of the stock is owned by institutional investors.

Caleres Company Profile

Caleres, Inc, formerly known as Brown Shoe Company, is a leading footwear company engaged in the design, sourcing, marketing and selling of a broad portfolio of branded and private-label shoes. The company’s operations span a range of market segments from value-priced to premium and luxury. Caleres operates through two primary segments: a retail segment anchored by the Famous Footwear banner, which includes more than 1,100 stores across North America, and a brand portfolio segment comprising owned and licensed brands such as Allen Edmonds, Naturalizer, Sam Edelman, Dr.