Caleres (NYSE:CAL) Hits New 52-Week Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

CAL has been the subject of several research analyst reports. StockNews.com cut Caleres from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Loop Capital lowered their price objective on shares of Caleres from $30.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, December 6th.

Caleres Price Performance

The firm has a market cap of $917.69 million, a P/E ratio of 6.01 and a beta of 1.92. The company’s 50 day moving average is $30.83 and its two-hundred day moving average is $34.02.

Caleres (NYSE:CAL) last announced its quarterly earnings data on Thursday, December 5th. The textile maker reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.15). The firm had revenue of $740.90 million during the quarter, compared to the consensus estimate of $751.35 million. Caleres had a return on equity of 22.71% and a net margin of 5.69%. Caleres’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 EPS. Research analysts predict that Caleres, Inc. will post 3.5 EPS for the current year.

Hedge Funds Weigh In On Caleres

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in Caleres by 3.2% in the third quarter. Principal Financial Group Inc. now owns 1,835,057 shares of the textile maker’s stock valued at $60,648,000 after acquiring an additional 56,346 shares during the period. State Street Corp boosted its stake in Caleres by 3.1% in the 3rd quarter. State Street Corp now owns 1,519,912 shares of the textile maker’s stock valued at $50,233,000 after buying an additional 46,230 shares in the last quarter. Pacer Advisors Inc. bought a new stake in Caleres in the third quarter valued at $49,783,000. FMR LLC raised its stake in Caleres by 30.1% during the third quarter. FMR LLC now owns 929,968 shares of the textile maker’s stock worth $30,735,000 after acquiring an additional 215,372 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Caleres by 25.6% during the second quarter. American Century Companies Inc. now owns 901,852 shares of the textile maker’s stock valued at $30,302,000 after acquiring an additional 183,594 shares during the period. 98.44% of the stock is owned by institutional investors.

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.