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 research report issued on Wednesday.

A number of other research analysts also recently weighed in on FL. Wedbush restated a “neutral” rating and issued a $25.00 price target on shares of Foot Locker in a research note on Wednesday, June 12th. Morgan Stanley increased their price target on Foot Locker from $20.00 to $24.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Bank of America reduced their price objective on Foot Locker from $31.00 to $27.00 and set a “neutral” rating for the company in a report on Thursday, March 7th. UBS Group raised shares of Foot Locker from a “sell” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $23.00 in a research report on Monday, March 11th. 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. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Foot Locker has an average rating of “Hold” and a consensus target price of $24.81.

Foot Locker Stock Up 3.2 %

NYSE:FL opened at $25.11 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.15. The stock has a 50-day moving average price of $23.27 and a two-hundred day moving average price of $26.88. Foot Locker has a 1 year low of $14.84 and a 1 year high of $35.60. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of -6.63, a PEG ratio of 0.57 and a beta of 1.47.

Foot Locker (NYSE:FL) last announced its earnings results 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. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business earned $0.70 EPS. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, equities analysts expect that Foot Locker will post 1.55 earnings per share for the current year.

Institutional Trading of Foot Locker

Several large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its stake in shares of Foot Locker by 445.8% in the third quarter. Tower Research Capital LLC TRC now owns 27,477 shares of the athletic footwear retailer’s stock worth $477,000 after purchasing an additional 22,443 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Foot Locker by 110.4% in the 3rd quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock valued at $12,687,000 after buying an additional 383,724 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Foot Locker in the fourth quarter valued at about $20,717,000. Vanguard Group Inc. increased its stake in shares of Foot Locker by 9.6% in the third quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock valued at $178,580,000 after buying an additional 902,610 shares during the period. Finally, Quadrant Capital Group LLC raised its position in shares of Foot Locker by 3,004.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after acquiring an additional 1,352 shares during 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.