Caleres (NYSE:CAL) Stock Price Crosses Above 200 Day Moving Average - Time to Sell?

Key Points

• Caleres, Inc.'s stock price recently crossed above its 200-day moving average, reaching a high of $15.63, indicating potential upward momentum.
• Analysts have downgraded their ratings for Caleres, with a consensus rating of "Reduce" and an average target price of $14.00.
• The company reported earnings per share of $0.35, missing the consensus estimate of $0.51, and experienced a 3.6% year-over-year revenue decline.

Caleres, Inc. (NYSE:CAL - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $15.08 and traded as high as $15.63. Caleres shares last traded at $15.60, with a volume of 864,265 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have commented on CAL shares. Loop Capital reduced their price target on shares of Caleres from $16.00 to $14.00 and set a "hold" rating for the company in a report on Friday, May 30th. Zacks Research downgraded shares of Caleres from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Caleres has a consensus rating of "Reduce" and an average target price of $14.00.

Caleres Trading Up 4.8%

The company has a market capitalization of $527.84 million, a PE ratio of 8.91 and a beta of 1.07. The company has a fifty day simple moving average of $14.65 and a 200-day simple moving average of $15.08.

Caleres (NYSE:CAL - Get Free Report) last issued its earnings results on Thursday, September 4th. The textile maker reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.16). Caleres had a return on equity of 11.91% and a net margin of 2.26%.The business had revenue of $658.52 million for the quarter, compared to analyst estimates of $656.93 million. During the same period last year, the business posted $0.98 EPS. Caleres's revenue was down 3.6% on a year-over-year basis. On average, equities analysts predict that Caleres, Inc. will post 3.23 EPS for the current fiscal year.

Caleres Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 12th. Caleres's payout ratio is 16.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Deutsche Bank AG grew its holdings in shares of Caleres by 32.6% during the fourth quarter. Deutsche Bank AG now owns 38,909 shares of the textile maker's stock valued at $901,000 after purchasing an additional 9,575 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Caleres by 1,022.6% in the fourth quarter. Janus Henderson Group PLC now owns 183,368 shares of the textile maker's stock valued at $4,247,000 after purchasing an additional 167,034 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Caleres during the fourth quarter worth $258,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Caleres by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker's stock worth $450,000 after buying an additional 643 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Caleres by 1,087.7% in the fourth quarter. Millennium Management LLC now owns 180,822 shares of the textile maker's stock valued at $4,188,000 after purchasing an additional 165,598 shares during the last quarter. Institutional investors and hedge funds 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.

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