Foot Locker (NYSE:FL) Cut to Neutral at BTIG Research

Foot Locker (NYSE:FL) was downgraded by equities researchers at BTIG Research from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Briefing.com reports.

Other research analysts have also issued research reports about the stock. Evercore ISI initiated coverage on shares of Foot Locker in a research report on Tuesday, November 7th. They set an “inline” rating and a $23.00 target price on the stock. The Goldman Sachs Group lowered Foot Locker from a “neutral” rating to a “sell” rating and set a $18.00 price objective on the stock. in a research note on Thursday, October 19th. Telsey Advisory Group cut their target price on Foot Locker from $36.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, August 24th. Citigroup decreased their price target on Foot Locker from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, August 24th. Finally, UBS Group reduced their price objective on shares of Foot Locker from $22.00 to $11.00 and set a “sell” rating on the stock in a research note on Thursday, August 24th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Foot Locker has an average rating of “Hold” and an average target price of $26.40.

Foot Locker Price Performance

Shares of NYSE FL opened at $23.27 on Tuesday. The firm has a market cap of $2.19 billion, a P/E ratio of 15.11 and a beta of 1.26. The business’s 50 day moving average is $19.95 and its 200-day moving average is $24.14. The company has a current ratio of 1.63, a quick ratio of 0.37 and a debt-to-equity ratio of 0.14. Foot Locker has a 1-year low of $14.84 and a 1-year high of $47.22.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, August 23rd. The athletic footwear retailer reported $0.04 earnings per share for the quarter, hitting the consensus estimate of $0.04. The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a return on equity of 8.65% and a net margin of 1.76%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.10 EPS. Equities research analysts predict that Foot Locker will post 1.3 earnings per share for the current year.

Insider Activity at Foot Locker

In other news, CEO Mary N. Dillon bought 5,510 shares of the company’s stock in a transaction on Friday, September 8th. The stock was purchased at an average cost of $18.17 per share, for a total transaction of $100,116.70. Following the completion of the transaction, the chief executive officer now owns 27,649 shares of the company’s stock, valued at $502,382.33. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Foot Locker

A number of hedge funds have recently modified their holdings of FL. Global Retirement Partners LLC increased its stake in shares of Foot Locker by 444.4% in the third quarter. Global Retirement Partners LLC now owns 1,666 shares of the athletic footwear retailer’s stock valued at $31,000 after buying an additional 1,360 shares during the period. Advisors Asset Management Inc. boosted its holdings in Foot Locker by 68.3% in the first quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer’s stock valued at $40,000 after acquiring an additional 542 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Foot Locker during the 2nd quarter valued at approximately $42,000. National Bank of Canada FI raised its holdings in Foot Locker by 200.5% during the 2nd quarter. National Bank of Canada FI now owns 1,641 shares of the athletic footwear retailer’s stock worth $44,000 after purchasing an additional 1,095 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of Foot Locker by 1,548.0% in the 2nd quarter. Harbour Investments Inc. now owns 1,648 shares of the athletic footwear retailer’s stock worth $45,000 after purchasing an additional 1,548 shares during the period.

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.