Foot Locker (NYSE:FL) Rating Lowered to Sell at StockNews.com

Foot Locker (NYSE:FL) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Other equities analysts have also issued reports about the company. Evercore ISI raised 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 note on Monday, March 25th. Bank of America cut their price target on shares of Foot Locker from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $28.00 price objective (down previously from $38.00) on shares of Foot Locker in a research note on Thursday, March 7th. Morgan Stanley dropped their target price on shares of Foot Locker from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, March 7th. Finally, Guggenheim reduced their target price on shares of Foot Locker from $35.00 to $30.00 and set a “buy” rating for the company 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $24.94.

Foot Locker Price Performance

Shares of NYSE FL opened at $20.60 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.55. The firm has a market capitalization of $1.95 billion, a PE ratio of -5.89, a P/E/G ratio of 0.51 and a beta of 1.43. Foot Locker has a 1-year low of $14.84 and a 1-year high of $42.19. The business’s fifty day moving average price is $25.84 and its two-hundred day moving average price is $26.42.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, beating the consensus estimate of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business earned $0.97 earnings per share. Foot Locker’s revenue was up 2.0% compared to the same quarter last year. On average, research analysts expect that Foot Locker will post 1.55 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund lifted its position in Foot Locker by 1.1% during the 4th quarter. New York State Common Retirement Fund now owns 33,635 shares of the athletic footwear retailer’s stock worth $1,048,000 after acquiring an additional 353 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Foot Locker by 1.4% during the 4th quarter. SummerHaven Investment Management LLC now owns 26,662 shares of the athletic footwear retailer’s stock worth $831,000 after purchasing an additional 358 shares during the last quarter. Yousif Capital Management LLC boosted its stake in Foot Locker by 0.9% during the 4th 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 during the period. CWM LLC grew its holdings in Foot Locker by 26.7% in the 4th quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock valued at $57,000 after buying an additional 387 shares during the last quarter. Finally, Signaturefd LLC increased its position in Foot Locker by 10.0% in the 4th quarter. Signaturefd LLC now owns 5,799 shares of the athletic footwear retailer’s stock worth $181,000 after buying an additional 527 shares during the period.

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.