Weiss Ratings Reaffirms Sell (D+) Rating for Caleres (NYSE:CAL)

Key Points

• Weiss Ratings has reaffirmed a "sell (D+)" rating for Caleres (NYSE:CAL), indicating persistent negative sentiment from analysts regarding the stock.
• Zacks Research has downgraded Caleres from a "hold" rating to a "strong sell," reflecting increased caution among market analysts.
• Caleres reported a $0.35 EPS for the last quarter, missing analysts' estimates and showing a 3.6% year-over-year revenue decline of $658.52 million.

Caleres (NYSE:CAL - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research cut Caleres from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. One equities research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Sell" and a consensus target price of $14.00.

Caleres Trading Up 3.7%

Shares of NYSE CAL traded up $0.48 during trading on Wednesday, reaching $13.53. 752,967 shares of the company traded hands, compared to its average volume of 905,707. The firm's fifty day simple moving average is $14.48 and its 200 day simple moving average is $14.83. The stock has a market cap of $457.86 million, a P/E ratio of 7.73 and a beta of 1.15. Caleres has a 12-month low of $12.09 and a 12-month high of $34.38.

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

Institutional Investors Weigh In On Caleres

Several hedge funds have recently made changes to their positions in CAL. GAMMA Investing LLC increased its stake in shares of Caleres by 22,328.9% during the 1st quarter. GAMMA Investing LLC now owns 103,173 shares of the textile maker's stock worth $1,778,000 after purchasing an additional 102,713 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in shares of Caleres by 3.3% during the 1st quarter. SummerHaven Investment Management LLC now owns 24,569 shares of the textile maker's stock valued at $423,000 after buying an additional 785 shares during the last quarter. Golden State Wealth Management LLC lifted its position in shares of Caleres by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 5,097 shares of the textile maker's stock worth $88,000 after purchasing an additional 2,548 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Caleres by 3.9% during the first quarter. Bank of New York Mellon Corp now owns 350,853 shares of the textile maker's stock worth $6,045,000 after purchasing an additional 13,187 shares during the last quarter. Finally, Royce & Associates LP boosted its holdings in shares of Caleres by 4.9% in the 1st quarter. Royce & Associates LP now owns 843,445 shares of the textile maker's stock valued at $14,533,000 after buying an additional 39,067 shares during the period. 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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