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

Caleres (NYSE:CAL - Get Free Report) had its price target cut by equities research analysts at Loop Capital from $30.00 to $25.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the textile maker's stock. Loop Capital's price target points to a potential downside of 8.02% from the company's previous close.

Separately, StockNews.com downgraded shares of Caleres from a "buy" rating to a "hold" rating in a research report on Thursday, October 3rd.

Caleres Stock Performance

CAL stock traded up $0.61 during mid-day trading on Friday, reaching $27.18. The company had a trading volume of 976,029 shares, compared to its average volume of 440,603. The firm has a fifty day simple moving average of $31.07 and a 200 day simple moving average of $34.17. The company has a market capitalization of $956.74 million, a price-to-earnings ratio of 6.05 and a beta of 1.92. Caleres has a fifty-two week low of $26.05 and a fifty-two week high of $44.51.

Caleres (NYSE:CAL - Get Free Report) last issued its quarterly 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 firm had revenue of $740.90 million during the quarter, compared to analysts' expectations of $751.35 million. During the same quarter in the prior year, the firm earned $1.37 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. As a group, analysts predict that Caleres will post 3.5 earnings per share for the current year.

Hedge Funds Weigh In On Caleres

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

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.