Susquehanna Downgrades Caleres Inc to Neutral

Brokerage firm Susquehanna Downgrades its rating on Caleres Inc(CAL). The shares have been rated Neutral. Previously, the analysts had a Positive rating on the shares. The rating by the stock financial advisor at Susquehanna was issued on Mar 20, 2017 in a research report to their Investors and Clients.

In a different note, On Mar 3, 2017, Morgan Stanley said it Upgrades its rating on Caleres Inc. According to the research note, Morgan Stanley Raises the price target to $37 per share from a prior target of $33. The shares have been rated ‘Overweight’ by the firm.

Caleres Inc (CAL) made into the market gainers list on Wednesdays trading session with the shares advancing 1.38% or 0.36 points. Due to strong positive momentum, the stock ended at $26.38, which is also near the day’s high of $26.44. The stock began the session at $26.01 and the volume stood at 7,24,927 shares. The 52-week high of the shares is $36.61 and the 52 week low is $21.27. The company has a current market capitalization of $1,133 M and it has 4,29,43,480 shares in outstanding.

Caleres Inc(CAL) last announced its earnings results on Mar 16, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $639.488M. Analysts had an estimated revenue of $631.230M. Earnings per share were $0.33. Analysts had estimated an EPS of $0.38.

Several Insider Transactions has been reported to the SEC. On Feb 8, 2017, Daniel R Freidman (Div Pres, Whls Prod & Source) sold 5,000 shares at $30.62 per share price.Also, On Dec 27, 2016, Diane M Sullivan (CEO, Pres. & Chair. of Board) sold 21,630 shares at $33.41 per share price.On Dec 22, 2016, Richard M Ausick (Division President, Retail) sold 15,000 shares at $35.39 per share price, according to the Form-4 filing with the securities and exchange commission.

Caleres Inc. formerly Brown Shoe Company Inc. is a global footwear retailer and wholesaler. The Company is engaged in the operation of retail shoe stores and e-commerce Websites as well as the design sourcing and marketing of footwear for women and men. The Company operates through two segments: Famous Footwear and Brand Portfolio. The Company’s Famous Footwear segment includes Famous Footwear stores as well as Famous Footwear segment is a family branded footwear retailer with around 1038 stores. Famous Footwear stores feature a wide selection of brand-name athletic casual and dress shoes for the entire family. The Company’s Brand Portfolio segment offers retailers and consumers a portfolio of brands by designing sourcing and marketing branded footwear for women and men. The Company’s Brand Portfolio segment sells footwear on a wholesale basis to retailers. It also sells footwear through its branded retail stores and e-commerce businesses.

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