Could Caleres, Inc. (CAL) Change Direction After Achieving 52-Week High?

May 16, 2018 - By Darren Young

Caleres, Inc. (NYSE:CAL) Logo

The stock of Caleres, Inc. (NYSE:CAL) hit a new 52-week high and has $39.17 target or 9.00 % above today’s $35.94 share price. The 8 months bullish chart indicates low risk for the $1.55 billion company. The 1-year high was reported on May, 16 by Barchart.com. If the $39.17 price target is reached, the company will be worth $139.68 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 3.85% or $1.33 during the last trading session, reaching $35.94. About 196,995 shares traded. Caleres, Inc. (NYSE:CAL) has risen 24.44% since May 16, 2017 and is uptrending. It has outperformed by 12.89% the S&P500.

Analysts await Caleres, Inc. (NYSE:CAL) to report earnings on May, 24. They expect $0.48 earnings per share, up 20.00 % or $0.08 from last year’s $0.4 per share. CAL’s profit will be $20.73M for 18.72 P/E if the $0.48 EPS becomes a reality. After $0.48 actual earnings per share reported by Caleres, Inc. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

Caleres, Inc. (NYSE:CAL) Ratings Coverage

Among 4 analysts covering Caleres Inc (NYSE:CAL), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. Caleres Inc has $38 highest and $28.0 lowest target. $33.33’s average target is -7.26% below currents $35.94 stock price. Caleres Inc had 5 analyst reports since November 23, 2017 according to SRatingsIntel. The firm has “Neutral” rating by Susquehanna given on Tuesday, January 23. The rating was maintained by Jefferies with “Hold” on Wednesday, November 22. Wedbush maintained the shares of CAL in report on Thursday, November 23 with “Outperform” rating. As per Wednesday, March 14, the company rating was maintained by Jefferies. The stock of Caleres, Inc. (NYSE:CAL) has “Buy” rating given on Wednesday, March 14 by Buckingham Research.

More news for Caleres, Inc. (NYSE:CAL) were recently published by: Seekingalpha.com, which released: “Margins a concern in the footwear sector” on April 20, 2018. Businesswire.com‘s article titled: “Caleres Names Molly Adams President of Famous Footwear” and published on May 10, 2018 is yet another important article.

Caleres, Inc., a footwear company, retails and wholesales footwear. The company has market cap of $1.55 billion. The firm operates through Famous Footwear and Brand Portfolio divisions. It has a 17.79 P/E ratio. It offers licensed, branded, and private-label casual, dress, and athletic footwear products to women, men, and children.

Caleres, Inc. (NYSE:CAL) Ratings Chart

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