Foot Locker, Inc. (NYSE:FL – Get Free Report) was the target of a significant increase in short interest in July. As of July 15th, there was short interest totalling 9,640,000 shares, an increase of 13.7% from the June 30th total of 8,480,000 shares. Based on an average daily volume of 2,930,000 shares, the short-interest ratio is currently 3.3 days. Currently, 11.7% of the company’s stock are sold short.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on FL shares. Telsey Advisory Group restated a “market perform” rating and set a $26.00 target price on shares of Foot Locker in a research note on Thursday, May 30th. Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Wedbush reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Foot Locker in a report on Wednesday, June 12th. Finally, Barclays boosted their price objective 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 investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.44.
View Our Latest Stock Report on FL
Institutional Trading of Foot Locker
Foot Locker Price Performance
Shares of NYSE:FL traded down $0.01 during trading on Wednesday, reaching $28.83. 885,792 shares of the company’s stock traded hands, compared to its average volume of 3,310,274. The firm has a market cap of $2.73 billion, a PE ratio of -7.61, a P/E/G ratio of 0.67 and a beta of 1.46. Foot Locker has a fifty-two week low of $14.84 and a fifty-two week high of $35.60. 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 company has a 50-day simple moving average of $25.03 and a 200-day simple moving average of $25.85.
Foot Locker (NYSE:FL – Get Free Report) last posted its quarterly earnings data on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.70 earnings per share. As a group, analysts predict that Foot Locker will post 1.52 earnings per share for the current year.
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.
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