Foot Locker (NYSE:FL – Get Free Report) was upgraded by equities researchers at Williams Trading from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, FlyOnTheWall reports.
FL has been the topic of a number of other research reports. Barclays cut their price target on shares of Foot Locker from $42.00 to $31.00 in a report on Sunday, May 21st. TheStreet lowered shares of Foot Locker from a “b-” rating to a “c+” rating in a research note on Tuesday, June 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Foot Locker from $42.00 to $28.00 in a research note on Monday, May 22nd. Evercore ISI dropped their price objective on shares of Foot Locker from $60.00 to $45.00 in a research note on Monday, May 22nd. Finally, Citigroup dropped their price objective on shares of Foot Locker from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Foot Locker has a consensus rating of “Hold” and a consensus target price of $37.90.
Foot Locker Stock Performance
Shares of NYSE FL traded down $0.14 during midday trading on Thursday, hitting $25.12. The company’s stock had a trading volume of 5,911,854 shares, compared to its average volume of 3,063,505. Foot Locker has a 1-year low of $24.44 and a 1-year high of $47.22. The firm’s fifty day moving average price is $26.14 and its 200-day moving average price is $34.86. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.44 and a current ratio of 1.64. The firm has a market cap of $2.36 billion, a P/E ratio of 9.74 and a beta of 1.24.
Foot Locker (NYSE:FL – Get Free Report) last posted its earnings results on Friday, May 19th. The athletic footwear retailer reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.99 billion. Foot Locker had a net margin of 2.88% and a return on equity of 11.77%. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 earnings per share. On average, sell-side analysts forecast that Foot Locker will post 2.08 EPS for the current fiscal year.
Hedge Funds Weigh In On Foot Locker
Institutional investors have recently added to or reduced their stakes in the company. ETF Managers Group LLC lifted its holdings in Foot Locker by 4.7% during the 4th quarter. ETF Managers Group LLC now owns 24,693 shares of the athletic footwear retailer’s stock valued at $933,000 after purchasing an additional 1,106 shares during the last quarter. IFP Advisors Inc increased its position in Foot Locker by 294.2% in the 1st quarter. IFP Advisors Inc now owns 41,297 shares of the athletic footwear retailer’s stock valued at $1,383,000 after acquiring an additional 30,822 shares in the last quarter. Citigroup Inc. increased its position in Foot Locker by 6.0% in the 4th quarter. Citigroup Inc. now owns 160,800 shares of the athletic footwear retailer’s stock valued at $6,077,000 after acquiring an additional 9,150 shares in the last quarter. Mork Capital Management LLC acquired a new stake in Foot Locker in the 4th quarter valued at about $860,000. Finally, Jennison Associates LLC acquired a new stake in Foot Locker in the 4th quarter valued at about $17,028,000. 99.05% of the stock is owned by institutional investors.
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 youth culture 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.