Williams Trading Downgrades Foot Locker (NYSE:FL) to Sell

Foot Locker (NYSE:FL – Get Rating) was downgraded by equities researchers at Williams Trading from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday, The Fly reports.

Several other equities analysts have also recently issued reports on the company. UBS Group cut Foot Locker from a “neutral” rating to a “sell” rating in a research report on Wednesday, March 29th. Deutsche Bank Aktiengesellschaft lifted their price target on Foot Locker from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, March 21st. Wedbush reiterated a “neutral” rating on shares of Foot Locker in a research report on Tuesday, March 21st. Evercore ISI upgraded Foot Locker from an “in-line” rating to an “outperform” rating and set a $60.00 price target on the stock in a research report on Tuesday, March 21st. Finally, Seaport Res Ptn restated a “neutral” rating on shares of Foot Locker in a report on Tuesday, March 14th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.80.

Foot Locker Price Performance

FL stock opened at $27.63 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.55 and a current ratio of 1.57. Foot Locker has a 1 year low of $23.85 and a 1 year high of $47.22. The firm has a market cap of $2.58 billion, a P/E ratio of 10.71 and a beta of 1.23. The stock has a 50-day simple moving average of $40.05 and a 200-day simple moving average of $39.61.

Foot Locker (NYSE:FL – Get Rating) last posted its earnings results on Friday, May 19th. The athletic footwear retailer reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.08). Foot Locker had a net margin of 3.91% and a return on equity of 14.57%. The company had revenue of $1.93 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter last year, the business posted $1.60 EPS. Foot Locker’s quarterly revenue was down 11.3% compared to the same quarter last year. On average, equities analysts predict that Foot Locker will post 2.13 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Foot Locker by 5.9% in the 1st quarter. FMR LLC now owns 10,089,926 shares of the athletic footwear retailer’s stock valued at $400,469,000 after purchasing an additional 564,490 shares during the period. BlackRock Inc. boosted its holdings in shares of Foot Locker by 5.0% in the 1st quarter. BlackRock Inc. now owns 8,129,401 shares of the athletic footwear retailer’s stock worth $241,118,000 after acquiring an additional 386,775 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Foot Locker by 6.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,864,496 shares of the athletic footwear retailer’s stock worth $232,761,000 after buying an additional 337,865 shares in the last quarter. LSV Asset Management lifted its holdings in Foot Locker by 1.6% during the 3rd quarter. LSV Asset Management now owns 4,492,965 shares of the athletic footwear retailer’s stock worth $139,866,000 after buying an additional 70,700 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Foot Locker by 7,437.5% during the 1st quarter. Macquarie Group Ltd. now owns 3,678,300 shares of the athletic footwear retailer’s stock worth $145,992,000 after buying an additional 3,629,500 shares in the last quarter. 95.06% of the stock is currently owned by institutional investors.

Foot Locker Company Profile

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Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.