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

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

Several other research analysts have also recently weighed in on the stock. Bank of America decreased their price objective on shares of Foot Locker from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Citigroup upgraded shares of Foot Locker from a “sell” rating to a “neutral” rating and increased their price target for the company from $19.00 to $24.00 in a research report on Friday, March 22nd. Barclays reduced their price target on shares of Foot Locker from $26.00 to $22.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 7th. Evercore ISI upgraded shares of Foot Locker from an “in-line” rating to an “outperform” rating and increased their price target for the company from $28.00 to $32.00 in a research report on Monday, March 25th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $28.00 price target (down from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.94.

Foot Locker Stock Up 3.2 %

FL stock opened at $22.25 on Monday. The company has a current ratio of 1.72, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $26.78 and its 200 day moving average is $26.39. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -6.36, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. Foot Locker has a 1-year low of $14.84 and a 1-year high of $42.79.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. Foot Locker’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.97 earnings per share. Sell-side analysts predict that Foot Locker will post 1.56 EPS for the current fiscal year.

Institutional Trading of Foot Locker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FL. Barclays PLC lifted its position in Foot Locker by 385.6% during the third quarter. Barclays PLC now owns 1,746,876 shares of the athletic footwear retailer’s stock valued at $30,307,000 after buying an additional 1,387,154 shares during the period. Vanguard Group Inc. lifted its position in Foot Locker by 9.6% during the third quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock valued at $178,580,000 after buying an additional 902,610 shares during the period. Norges Bank bought a new position in shares of Foot Locker during the fourth quarter valued at $21,238,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Foot Locker during the fourth quarter valued at $20,717,000. Finally, AQR Capital Management LLC increased its holdings in shares of Foot Locker by 110.4% during the third quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock valued at $12,687,000 after acquiring an additional 383,724 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.