Loop Capital Issues Pessimistic Forecast for Caleres (NYSE:CAL) Stock Price

Caleres (NYSE:CAL) had its target price lowered by Loop Capital from $30.00 to $25.00 in a report released on Friday,Benzinga reports. The brokerage currently has a hold rating on the textile maker’s stock.

Separately, StockNews.com downgraded Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

Caleres Stock Performance

NYSE CAL opened at $27.18 on Friday. The business has a fifty day moving average price of $31.07 and a 200 day moving average price of $34.19. Caleres has a one year low of $26.05 and a one year high of $44.51. The company has a market cap of $956.76 million, a P/E ratio of 5.88 and a beta of 1.92.

Caleres (NYSE:CAL) last issued its earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). Caleres had a return on equity of 24.63% and a net margin of 5.84%. The company had revenue of $740.90 million during the quarter, compared to analyst estimates of $751.35 million. During the same period last year, the business earned $1.37 earnings per share. The firm’s revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that Caleres will post 4.01 EPS for the current fiscal year.

Institutional Trading of Caleres

A number of hedge funds and other institutional investors have recently modified their holdings of CAL. nVerses Capital LLC acquired a new stake in shares of Caleres during the 2nd quarter worth about $40,000. Creative Planning purchased a new position in Caleres during the 3rd quarter valued at about $204,000. Y Intercept Hong Kong Ltd purchased a new position in Caleres during the 3rd quarter valued at about $228,000. AXA S.A. boosted its holdings in Caleres by 28.5% during the 2nd quarter. AXA S.A. now owns 6,939 shares of the textile maker’s stock valued at $233,000 after acquiring an additional 1,540 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Caleres by 31,308.7% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 7,224 shares of the textile maker’s stock valued at $243,000 after acquiring an additional 7,201 shares during the period. 98.44% of the stock is owned by institutional investors and hedge funds.

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.