Caleres, Inc. (NYSE:CAL) is 1.41 points higher today and the only thing that matters is where they go from here. You simply have to look deeper than the share price and explore the fundamentals and future growth potential. The stock value has climbed by nearly 6.66% to $22.57 from its previous close of $21.16. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 118175 contracts so far this session. CAL shares had a relatively better volume day versus average trading capacity of 858.26 thousand shares, but with a 39.04 million float and a -5.28% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CAL stock indicates that the average analyst price target is $29.8 per share. This means the stock has a potential increase of 32.03% from where the CAL share price has been trading recently which is between $21.13 and $21.95. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $26. Flipping the other side of the coin, an analyst who is fully bullish set a price target as high as $38.
During the recent trading session for Caleres, Inc. (NYSE:CAL), the company witnessed their stock rise $1.12 over a week and surge $0.38 from the price 20 days ago. When compared to their established 52-week high of $37.82, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/11/18. The recent low of $14.3 stood for a -40.32% since 12/08/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.91 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to. At the moment, the median target price for CAL is set at $28, a figure which is below the recent 1-year high the stock witnessed.
Looking at the current readings for Caleres, Inc., the two-week RSI stands at 59.7. This figure suggests that CAL stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CAL readings is similarly very revealing as it has a stochastic reading of 24.53% at this stage. This figure means that CAL share price today is being overbought.
Technical chart claims that Caleres, Inc. (CAL) would settle between $21.7/share to $22.23/share level. However, if the stock price goes below the $20.88 mark, then the market for Caleres, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $20.59 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.11. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Susquehanna raised their recommendation on shares of CAL from Neutral to Positive in their opinion released on July 22. Needham analysts bumped their rating on Caleres, Inc. (NYSE:CAL) stock from Hold to Buy in a separate flash note issued to investors on April 22. Analysts at Needham released an upgrade from Hold to Buy for the stock, in a research note that dated back to April 22.
CAL equity has an average rating of 2.26, with the figure leaning towards a bullish end. 6 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 5 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 5 analysts rated Caleres, Inc. (NYSE:CAL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, CAL stock price is currently trading at 7.81X forward 12-month Consensus EPS estimates, and its P/E ratio is 0 while for the average stock in the same group, the multiple is 29.4. Caleres, Inc. current P/B ratio of 1.4 means it is trading at a discount against its industry’s 9.2.