Foot Locker (NYSE:FL) Raised to Hold at Williams Trading

Foot Locker (NYSE:FL) was upgraded by research analysts at Williams Trading from a “sell” rating to a “hold” rating in a report released on Wednesday,Benzinga reports. The firm currently has a $21.00 price objective on the athletic footwear retailer’s stock, up from their prior price objective of $17.00. Williams Trading’s price target suggests a potential downside of 17.03% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Gordon Haskett started coverage on Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target on the stock. Citigroup increased their target price on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Robert W. Baird reduced their price objective on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $27.00 price objective on shares of Foot Locker in a research note on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Foot Locker has an average rating of “Hold” and a consensus price target of $26.56.

Foot Locker Price Performance

NYSE:FL opened at $25.31 on Wednesday. The company has a 50 day moving average price of $24.40 and a 200-day moving average price of $25.77. Foot Locker has a 1-year low of $20.47 and a 1-year high of $35.60. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -6.54, a price-to-earnings-growth ratio of 0.72 and a beta of 1.44. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The business had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.88 billion. Equities research analysts forecast that Foot Locker will post 1.48 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

A number of institutional investors have recently bought and sold shares of the company. Quarry LP purchased a new stake in Foot Locker in the second quarter valued at $31,000. Fifth Third Bancorp increased its position in shares of Foot Locker by 116.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after purchasing an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after buying an additional 985 shares during the period. Headlands Technologies LLC acquired a new position in Foot Locker in the second quarter valued at about $43,000. Finally, nVerses Capital LLC purchased a new position in Foot Locker during the third quarter worth about $47,000.

Foot Locker Company Profile

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.