Foot Locker (NYSE:FL) Stock Rating Lowered by Morgan Stanley

Foot Locker (NYSE:FL) was downgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued on Thursday, MarketBeat.com reports. They presently have a $18.00 target price on the athletic footwear retailer’s stock, down from their prior target price of $24.00. Morgan Stanley’s target price would indicate a potential downside of 29.05% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Evercore ISI upgraded shares of 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 research note on Monday, March 25th. Telsey Advisory Group reissued a “market perform” rating and set a $26.00 price target on shares of Foot Locker in a report on Thursday, May 30th. Citigroup raised shares of Foot Locker from a “sell” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $24.00 in a report on Friday, March 22nd. Wedbush reissued a “neutral” rating and set a $25.00 price target on shares of Foot Locker in a report on Wednesday, June 12th. Finally, Barclays lifted their price target on shares of Foot Locker from $22.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, May 31st. Five research 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $24.44.

Foot Locker Trading Up 0.7 %

Foot Locker stock opened at $25.37 on Thursday. The company has a quick ratio of 0.50, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $24.44 and a two-hundred day moving average price of $26.04. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -6.69, a PEG ratio of 0.62 and a beta of 1.46. Foot Locker has a 52-week low of $14.84 and a 52-week high of $35.60.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the previous year, the firm earned $0.70 EPS. Foot Locker’s revenue was down 2.8% on a year-over-year basis. Sell-side analysts expect that Foot Locker will post 1.55 earnings per share for the current year.

Institutional Investors Weigh In On Foot Locker

Several institutional investors have recently modified their holdings of the business. New York State Common Retirement Fund grew its position in shares of 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 buying an additional 353 shares during the period. SummerHaven Investment Management LLC grew 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 during the period. Yousif Capital Management LLC grew 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 during the period. CWM LLC grew 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 during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Foot Locker by 1.2% during the second quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock valued at $1,035,000 after purchasing an additional 483 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 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.