Caleres (NYSE:CAL) Price Target Lowered to $16.00 at Loop Capital

Caleres (NYSE:CAL) had its price target reduced by research analysts at Loop Capital from $17.00 to $16.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the textile maker’s stock. Loop Capital’s price objective would indicate a potential upside of 0.03% from the company’s previous close.

Caleres Stock Up 3.1 %

Caleres stock traded up $0.48 during mid-day trading on Friday, hitting $16.00. 1,533,398 shares of the company were exchanged, compared to its average volume of 883,533. The company has a market capitalization of $537.90 million, a PE ratio of 3.56 and a beta of 1.82. The business has a fifty day moving average of $17.10 and a 200 day moving average of $24.32. Caleres has a 1-year low of $14.38 and a 1-year high of $44.51.

Caleres (NYSE:CAL) last announced its quarterly earnings results on Thursday, March 20th. The textile maker reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.06. The firm had revenue of $639.20 million during the quarter, compared to the consensus estimate of $645.79 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. Research analysts expect that Caleres will post 3.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Lori Greeley bought 9,000 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was bought at an average price of $17.77 per share, for a total transaction of $159,930.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $177,700. The trade was a 900.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Kyle Gendreau bought 5,000 shares of the business’s stock in a transaction on Friday, January 17th. The shares were acquired at an average price of $19.93 per share, for a total transaction of $99,650.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $99,650. This trade represents a ? increase in their position. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.

Institutional Trading of Caleres

Institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. grew its position in shares of Caleres by 1.7% during the 3rd quarter. Franklin Resources Inc. now owns 27,905 shares of the textile maker’s stock worth $908,000 after buying an additional 479 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Caleres by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,448 shares of the textile maker’s stock valued at $450,000 after buying an additional 643 shares in the last quarter. Versant Capital Management Inc raised its stake in Caleres by 244.0% during the 1st quarter. Versant Capital Management Inc now owns 1,455 shares of the textile maker’s stock worth $25,000 after buying an additional 1,032 shares during the period. MetLife Investment Management LLC raised its holdings in Caleres by 6.0% during the 4th quarter. MetLife Investment Management LLC now owns 20,870 shares of the textile maker’s stock worth $483,000 after buying an additional 1,177 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Caleres by 254.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,733 shares of the textile maker’s stock valued at $40,000 after buying an additional 1,244 shares during the last quarter. Institutional investors and hedge funds own 98.44% of the company’s stock.

About Caleres

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.