Foot Locker (NYSE:FL) Downgraded by StockNews.com to Sell

StockNews.com downgraded shares of Foot Locker (NYSE:FL) from a hold rating to a sell rating in a research report report published on Tuesday.

Several other analysts have also issued reports on FL. Telsey Advisory Group reiterated a market perform rating and set a $28.00 price objective (down from $38.00) on shares of Foot Locker in a report on Thursday, March 7th. Barclays cut their target price on Foot Locker from $26.00 to $22.00 and set an equal weight rating on the stock in a report on Thursday, March 7th. Evercore ISI upgraded Foot Locker from an in-line rating to an outperform rating and raised their target price for the company from $28.00 to $32.00 in a report on Monday, March 25th. Citigroup upgraded Foot Locker from a sell rating to a neutral rating and raised their target price for the company from $19.00 to $24.00 in a report on Friday, March 22nd. Finally, Morgan Stanley cut their target price on Foot Locker from $28.00 to $26.00 and set an equal weight rating on the stock in a report on Thursday, March 7th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Foot Locker has an average rating of Hold and an average price target of $24.94.

Foot Locker Stock Performance

Shares of Foot Locker stock opened at $20.85 on Tuesday. The company has a quick ratio of 0.55, a current ratio of 1.72 and a debt-to-equity ratio of 0.15. Foot Locker has a 12 month low of $14.84 and a 12 month high of $42.79. The business has a fifty day simple moving average of $26.08 and a 200-day simple moving average of $26.42. The stock has a market cap of $1.97 billion, a PE ratio of -5.96, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43.

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

Institutional Investors Weigh In On Foot Locker

A number of institutional investors have recently added to or reduced their stakes in FL. New York State Common Retirement Fund boosted its holdings in Foot Locker by 1.1% during the fourth quarter. New York State Common Retirement Fund now owns 33,635 shares of the athletic footwear retailer’s stock valued at $1,048,000 after purchasing an additional 353 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in Foot Locker by 1.4% during the fourth quarter. SummerHaven Investment Management LLC now owns 26,662 shares of the athletic footwear retailer’s stock valued at $831,000 after purchasing an additional 358 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Foot Locker by 0.9% during the fourth quarter. Yousif Capital Management LLC now owns 44,686 shares of the athletic footwear retailer’s stock valued at $1,392,000 after purchasing an additional 380 shares in the last quarter. CWM LLC boosted its holdings in Foot Locker by 26.7% during the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock valued at $57,000 after purchasing an additional 387 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Foot Locker by 10.0% during the fourth quarter. Signaturefd LLC now owns 5,799 shares of the athletic footwear retailer’s stock valued at $181,000 after purchasing an additional 527 shares in the last quarter.

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 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.