Foot Locker (NYSE:FL – Get Free Report) was downgraded by research analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report released on Monday, FinViz reports. They presently have a $18.00 price objective on the athletic footwear retailer’s stock, down from their prior price objective of $28.00. Jefferies Financial Group’s target price would suggest a potential upside of 1.35% from the company’s previous close.
Other equities research analysts have also recently issued research reports about the stock. Bank of America reduced their target price on shares of Foot Locker from $29.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, August 24th. Evercore ISI cut their price objective on shares of Foot Locker from $45.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, August 24th. Guggenheim cut their price objective on shares of Foot Locker from $50.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 24th. The Goldman Sachs Group cut their price objective on shares of Foot Locker from $27.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, August 24th. Finally, Morgan Stanley cut their price objective on shares of Foot Locker from $30.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $27.32.
Foot Locker Trading Down 1.5 %
FL stock opened at $17.76 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.63 and a quick ratio of 0.37. The company has a fifty day moving average price of $22.19 and a two-hundred day moving average price of $30.03. Foot Locker has a one year low of $14.84 and a one year high of $47.22. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 11.53 and a beta of 1.28.
Foot Locker (NYSE:FL – Get Free Report) last released its quarterly earnings data on Wednesday, August 23rd. The athletic footwear retailer reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a net margin of 1.76% and a return on equity of 8.65%. The company’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.10 earnings per share. Equities analysts anticipate that Foot Locker will post 1.36 EPS for the current year.
Insider Activity at Foot Locker
In related news, CEO Mary N. Dillon bought 5,510 shares of Foot Locker stock in a transaction that occurred on Friday, September 8th. The shares were acquired at an average cost of $18.17 per share, for a total transaction of $100,116.70. Following the completion of the acquisition, the chief executive officer now directly owns 27,649 shares of the company’s stock, valued at approximately $502,382.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Foot Locker
Institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Foot Locker by 187.1% in the 2nd quarter. Barclays PLC now owns 359,722 shares of the athletic footwear retailer’s stock worth $9,752,000 after purchasing an additional 772,605 shares in the last quarter. Osaic Holdings Inc. raised its position in Foot Locker by 4.7% in the 2nd quarter. Osaic Holdings Inc. now owns 19,012 shares of the athletic footwear retailer’s stock valued at $515,000 after buying an additional 861 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Foot Locker by 10.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 14,139 shares of the athletic footwear retailer’s stock valued at $383,000 after buying an additional 1,322 shares during the last quarter. Sunbelt Securities Inc. raised its position in Foot Locker by 45.8% in the 2nd quarter. Sunbelt Securities Inc. now owns 2,082 shares of the athletic footwear retailer’s stock valued at $56,000 after buying an additional 654 shares during the last quarter. Finally, GTS Securities LLC purchased a new stake in Foot Locker in the 2nd quarter valued at $2,540,000.
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 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.