Caleres (NYSE:CAL) Hits New 12-Month Low – Here’s Why

Caleres, Inc. (NYSE:CAL)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $26.04 and last traded at $26.07, with a volume of 634410 shares. The stock had previously closed at $26.97.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CAL shares. StockNews.com lowered shares of Caleres from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Loop Capital dropped their price target on shares of Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, December 6th.

Caleres Stock Down 3.3 %

The firm’s 50-day moving average price is $30.83 and its two-hundred day moving average price is $34.02. The firm has a market capitalization of $917.69 million, a PE ratio of 6.01 and a beta of 1.92.

Caleres (NYSE:CAL) last announced its earnings results on Thursday, December 5th. The textile maker reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.38 by ($0.15). The firm had revenue of $740.90 million for the quarter, compared to analyst estimates of $751.35 million. Caleres had a net margin of 5.69% and a return on equity of 22.71%. Caleres’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $1.37 earnings per share. Equities research analysts forecast that Caleres, Inc. will post 3.5 EPS for the current year.

Institutional Inflows and Outflows

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

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.