Foot Locker (NYSE:FL) Lifted to “Outperform” at Evercore ISI

Evercore ISI upgraded shares of Foot Locker (NYSE:FL) from an in-line rating to an outperform rating in a research note issued to investors on Monday, Marketbeat Ratings reports. Evercore ISI currently has $32.00 target price on the athletic footwear retailer’s stock, up from their prior target price of $28.00.

A number of other equities analysts have also recently issued reports on FL. Citigroup upgraded Foot Locker from a sell rating to a neutral rating and lifted their target price for the stock from $19.00 to $24.00 in a report on Friday, March 22nd. The Goldman Sachs Group lifted their target price on Foot Locker from $18.00 to $20.00 and gave the stock a sell rating in a report on Thursday, November 30th. Jefferies Financial Group decreased their target price on Foot Locker from $25.00 to $24.00 and set a hold rating on the stock in a report on Wednesday, March 6th. Telsey Advisory Group reaffirmed a market perform rating and issued a $28.00 target price (down previously from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Finally, Morgan Stanley decreased their target price on Foot Locker from $28.00 to $26.00 and set an equal weight rating for the company in a research report on Thursday, March 7th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and a consensus price target of $24.94.

Foot Locker Stock Up 6.1 %

FL opened at $28.50 on Monday. Foot Locker has a 12 month low of $14.84 and a 12 month high of $42.79. 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 stock has a market cap of $2.68 billion, a P/E ratio of -8.14, a P/E/G ratio of 0.62 and a beta of 1.45. The stock’s 50 day moving average price is $28.70 and its 200 day moving average price is $25.55.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same period last year, the firm earned $0.97 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, research analysts predict that Foot Locker will post 1.56 earnings per share for the current year.

Hedge Funds Weigh In On Foot Locker

A number of institutional investors have recently made changes to their positions in FL. Raymond James Financial Services Advisors Inc. bought a new position in shares of Foot Locker in the first quarter worth about $611,000. HighTower Advisors LLC increased its stake in Foot Locker by 4.9% during the first quarter. HighTower Advisors LLC now owns 14,934 shares of the athletic footwear retailer’s stock valued at $443,000 after acquiring an additional 704 shares during the period. AlphaCrest Capital Management LLC increased its stake in Foot Locker by 19.4% during the first quarter. AlphaCrest Capital Management LLC now owns 13,103 shares of the athletic footwear retailer’s stock valued at $389,000 after acquiring an additional 2,125 shares during the period. MetLife Investment Management LLC increased its stake in Foot Locker by 29.0% during the first quarter. MetLife Investment Management LLC now owns 56,469 shares of the athletic footwear retailer’s stock valued at $1,675,000 after acquiring an additional 12,703 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Foot Locker by 6.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,002 shares of the athletic footwear retailer’s stock valued at $949,000 after acquiring an additional 2,059 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.