Caleres (CAL) Earns Outperform Rating from Wedbush

Caleres (NYSE:CAL)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued to clients and investors on Tuesday.

A number of other research firms also recently commented on CAL. Zacks Investment Research downgraded shares of Caleres from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 27th. Loop Capital set a $30.00 price objective on shares of Caleres and gave the company a “hold” rating in a research note on Wednesday, November 21st. Finally, ValuEngine downgraded shares of Caleres from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $39.75.

NYSE CAL opened at $27.11 on Tuesday. Caleres has a 12 month low of $26.60 and a 12 month high of $41.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.19 and a quick ratio of 0.39. The stock has a market cap of $1.17 billion, a PE ratio of 12.55 and a beta of 0.76.



Caleres announced that its board has initiated a share buyback program on Friday, December 14th that allows the company to buyback 2,500,000 shares. This buyback authorization allows the textile maker to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

In related news, insider Daniel R. Freidman sold 5,000 shares of the stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $30.00, for a total transaction of $150,000.00. Following the completion of the sale, the insider now owns 74,046 shares of the company’s stock, valued at approximately $2,221,380. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.60% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smith Moore & CO. increased its position in Caleres by 5.1% during the 4th quarter. Smith Moore & CO. now owns 13,419 shares of the textile maker’s stock worth $373,000 after purchasing an additional 649 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Caleres by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 30,997 shares of the textile maker’s stock worth $863,000 after acquiring an additional 681 shares during the period. First Hawaiian Bank purchased a new position in Caleres in the 4th quarter worth approximately $25,000. Texas Permanent School Fund boosted its holdings in Caleres by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 28,269 shares of the textile maker’s stock worth $787,000 after acquiring an additional 1,096 shares during the period. Finally, Riverhead Capital Management LLC boosted its holdings in Caleres by 36.9% in the 3rd quarter. Riverhead Capital Management LLC now owns 5,196 shares of the textile maker’s stock worth $186,000 after acquiring an additional 1,400 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

About Caleres

Caleres, Inc engages in the retail and wholesale of footwear in the United States, Canada, Guam, and Italy. It operates through Famous Footwear and Brand Portfolio segments. The company offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

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