The stock of Caleres, Inc. (NYSE:CAL) is now priced at $8.75 and the shares are 0.94 points up or 12.04% higher compared to its previous closing price of $7.81. The stock had 1.5 million contracts set over the past session. CAL shares’ daily volume is compared to its average trading volume at 928847 shares. However, it has a float of 37.09 million and although its performance was 27% over the week, it’s one to watch. Analysts have given the CAL stock a yearly average price target of $11.33 per share. It means the stock’s upside potential is 29.49% with the CAL share price recently placing at $7.58 to $8.78. However, some brokerage firms have priced the stock below the average, including one that has called $7.
The shorts are running away from the Caleres, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CAL shares have declined. Short interest in the stock represents just 7.68% of its float, but the volume has dropped by 0.
In the last trading session, Caleres, Inc. (NYSE:CAL) raised by $1.86 over the week and gained $2.36 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $24.86. The stock recorded its established 52-week high on 11/07/19.
Since 03/18/20, the stock has traded to a low of $3.12 at 180.45%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.1. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Caleres, Inc.’s two-week RSI is 68.29. This suggests that the stock is neutral at the moment and that CAL shares’ price movement remains stable. The stochastic readings are equally revealing at 95.21% meaning the CAL share price is currently in oversold territory.
The technical chart shows that the CAL stock will likely settle at between $9.16 and $9.57 per share. However, if the stock dips below $7.96, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $7.17.
Currently, the stock is trading in the green of MACD, with a reading of 0.87. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Susquehanna raised their recommendation for CAL from Negative to Positive in July 10 review. Susquehanna analysts downgraded their recommendation of the stock from Neutral to Negative while keeping its target price at $7 in a flash note released to investors on June 08. Susquehanna seeing the stock struggling downgraded it from Positive to Neutral on March 13 placing it at $9.
The average rating for the CAL equity is 2.6 and is currently gathering a bullish momentum. Of 5 analysts tracking Caleres, Inc. polled by Reuters, 2 rated CAL as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (2) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CAL stock price is 5.94X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands below the group’s average of 64.3. Caleres, Inc. has its P/E ratio at 1.2, which means that the stock is currently trading at a discount relative to the 11.8 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Caleres, Inc. (NYSE:CAL) will decrease by about -99.89%, which will see them reach $450 million. The company’s full-year revenues are, however, expected to diminish by about -29.11%, down from $2920 million to $2070 million. CAL’s expected adjusted earnings should drop almost -264.52% to end up at -$1.02 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -199.52% to record -$2.09/share.