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

Foot Locker (NYSE:FL) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird cut their target price on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Barclays set a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. Jefferies Financial Group decreased their price objective on Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Guggenheim lowered their target price on Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a research report on Thursday, December 5th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price target on shares of Foot Locker in a research report on Wednesday, March 5th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.81.

Foot Locker Stock Performance

Shares of Foot Locker stock opened at $12.65 on Thursday. The company’s 50 day moving average price is $17.44 and its two-hundred day moving average price is $21.28. The firm has a market capitalization of $1.20 billion, a P/E ratio of -2.80, a P/E/G ratio of 0.53 and a beta of 1.41. Foot Locker has a fifty-two week low of $11.31 and a fifty-two week 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.

Foot Locker (NYSE:FL) last issued its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The business had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. Foot Locker’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 EPS. On average, equities analysts forecast that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

A number of institutional investors and hedge funds have recently modified their holdings of the business. 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 acquiring an additional 648 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Foot Locker in the fourth quarter valued at $32,000. Wilmington Savings Fund Society FSB bought a new stake in Foot Locker in the third quarter valued at $58,000. R Squared Ltd acquired a new position in shares of Foot Locker during the fourth quarter valued at about $50,000. Finally, Sterling Capital Management LLC boosted its position in shares of Foot Locker by 819.2% during the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after purchasing an additional 2,343 shares in the last quarter.

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.