Caleres Inc (NYSE:CAL) Sees Large Growth in Short Interest

Caleres Inc (NYSE:CAL) saw a significant increase in short interest in the month of July. As of July 31st, there was short interest totalling 4,768,300 shares, an increase of 19.9% from the June 30th total of 3,976,900 shares. Currently, 11.5% of the company’s shares are short sold. Based on an average daily volume of 923,600 shares, the short-interest ratio is presently 5.2 days.

CAL stock traded down $0.41 during midday trading on Thursday, hitting $14.55. The stock had a trading volume of 28,938 shares, compared to its average volume of 867,978. The firm has a market cap of $613.10 million, a price-to-earnings ratio of 6.58 and a beta of 0.95. The company has a current ratio of 0.97, a quick ratio of 0.26 and a debt-to-equity ratio of 1.37. Caleres has a 1-year low of $14.30 and a 1-year high of $41.09. The company’s fifty day moving average price is $17.82.

Caleres (NYSE:CAL) last released its earnings results on Monday, June 3rd. The textile maker reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. The business had revenue of $677.80 million for the quarter, compared to analyst estimates of $672.90 million. Caleres had a negative net margin of 0.47% and a positive return on equity of 13.16%. Caleres’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 earnings per share. Analysts predict that Caleres will post 2.4 EPS for the current fiscal year.



A number of institutional investors and hedge funds have recently bought and sold shares of the business. Paradigm Capital Management Inc. NY increased its stake in Caleres by 5.4% in the second quarter. Paradigm Capital Management Inc. NY now owns 1,164,550 shares of the textile maker’s stock valued at $23,198,000 after purchasing an additional 59,900 shares in the last quarter. Norges Bank bought a new stake in Caleres in the fourth quarter valued at $28,085,000. Royce & Associates LP increased its stake in Caleres by 21.2% in the first quarter. Royce & Associates LP now owns 880,058 shares of the textile maker’s stock valued at $21,729,000 after purchasing an additional 154,135 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Caleres by 27.9% during the second quarter. Schroder Investment Management Group now owns 801,905 shares of the textile maker’s stock worth $15,974,000 after acquiring an additional 175,003 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Caleres by 20.8% during the second quarter. Morgan Stanley now owns 687,794 shares of the textile maker’s stock worth $13,702,000 after acquiring an additional 118,550 shares in the last quarter. 95.50% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts recently issued reports on CAL shares. ValuEngine lowered shares of Caleres from a “sell” rating to a “strong sell” rating in a report on Monday, May 20th. Needham & Company LLC upgraded shares of Caleres from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Monday, April 22nd. Zacks Investment Research upgraded shares of Caleres from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Susquehanna Bancshares upgraded shares of Caleres from a “neutral” rating to a “positive” rating and boosted their target price for the company from $22.00 to $23.00 in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Caleres currently has a consensus rating of “Buy” and a consensus target price of $35.33.

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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