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

StockNews.com upgraded shares of Foot Locker (NYSE:FL) from a sell rating to a hold rating in a research note released on Monday.

FL has been the subject of several other reports. Telsey Advisory Group reiterated a market perform rating and set a $28.00 target price (down from $38.00) on shares of Foot Locker in a research note on Thursday, March 7th. UBS Group upgraded Foot Locker from a sell rating to a neutral rating and increased their target price for the company from $12.00 to $23.00 in a research note on Monday, March 11th. Citigroup upgraded Foot Locker from a sell rating to a neutral rating and increased their target price for the company from $19.00 to $24.00 in a research note on Friday, March 22nd. Bank of America dropped their price target on Foot Locker from $31.00 to $27.00 and set a neutral rating on the stock in a research report on Thursday, March 7th. Finally, Evercore ISI raised Foot Locker from an in-line rating to an outperform rating and upped their price target for the company from $28.00 to $32.00 in a research report on Monday, March 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $24.94.

Foot Locker Stock Performance

NYSE FL opened at $21.92 on Monday. Foot Locker has a fifty-two week low of $14.84 and a fifty-two week high of $42.79. The business has a 50 day moving average price of $26.45 and a two-hundred day moving average price of $26.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 1.72.

Foot Locker (NYSE:FL) last released its 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. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 EPS. On average, equities analysts predict that Foot Locker will post 1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. New Mexico Educational Retirement Board bought a new position in Foot Locker during the first quarter valued at about $549,000. Sunbelt Securities Inc. bought a new position in Foot Locker during the first quarter valued at about $100,000. Bridgeway Capital Management LLC boosted its stake in Foot Locker by 16.3% during the fourth quarter. Bridgeway Capital Management LLC now owns 529,806 shares of the athletic footwear retailer’s stock valued at $16,503,000 after buying an additional 74,214 shares in the last quarter. Bayesian Capital Management LP bought a new position in Foot Locker during the fourth quarter valued at about $4,115,000. Finally, Comerica Bank boosted its stake in Foot Locker by 1.5% during the fourth quarter. Comerica Bank now owns 41,010 shares of the athletic footwear retailer’s stock valued at $1,277,000 after buying an additional 610 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.