Foot Locker (NYSE:FL) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Foot Locker (NYSE:FL) from a sell rating to a hold rating in a research note issued to investors on Thursday morning.

A number of other research firms have also recently commented on FL. Evercore ISI cut their target price on Foot Locker from $30.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Robert W. Baird reduced their price objective on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Jefferies Financial Group dropped their target price on shares of Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. The Goldman Sachs Group decreased their price objective on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a report on Thursday, December 5th. Finally, JPMorgan Chase & Co. cut their target price on Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, January 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.81.

Foot Locker Trading Down 15.3 %

Shares of NYSE FL opened at $12.47 on Thursday. Foot Locker has a 1 year low of $12.07 and a 1 year high of $33.94. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The firm has a 50-day moving average of $17.60 and a 200 day moving average of $21.37. The stock has a market cap of $1.18 billion, a P/E ratio of -2.76, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last released its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business’s revenue was down 5.7% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. As a group, sell-side analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Foot Locker

A number of hedge funds have recently modified their holdings of the business. Summit Investment Advisors Inc. lifted its position in Foot Locker by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock valued at $190,000 after purchasing an additional 562 shares in the last quarter. Harbour Investments Inc. lifted its position in shares of Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after buying an additional 648 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Foot Locker by 32.5% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock valued at $84,000 after acquiring an additional 801 shares during the period. Foundry Partners LLC increased its holdings in Foot Locker by 8.8% in the 4th quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock worth $278,000 after acquiring an additional 1,031 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in Foot Locker during the 4th quarter worth approximately $32,000.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.