Foot Locker (NYSE:FL) Raised to Hold at Williams Trading

Foot Locker (NYSE:FL) was upgraded by analysts at Williams Trading from a “sell” rating to a “hold” rating in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a $21.00 price target on the athletic footwear retailer’s stock, up from their previous price target of $17.00. Williams Trading’s price objective would suggest a potential downside of 17.03% from the stock’s previous close.

Several other research analysts have also recently issued reports on FL. Piper Sandler reiterated a “neutral” rating and set a $30.00 target price on shares of Foot Locker in a report on Friday, August 23rd. Gordon Haskett started coverage on Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 target price for the company. Citigroup lifted their price target on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a report on Tuesday, August 20th. StockNews.com downgraded Foot Locker from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Finally, Needham & Company LLC assumed coverage on shares of Foot Locker in a report on Friday, November 22nd. They issued a “buy” rating and a $27.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.56.

Foot Locker Stock Performance

Shares of NYSE:FL opened at $25.31 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.49 and a current ratio of 1.66. The firm has a market cap of $2.40 billion, a PE ratio of -6.54, a price-to-earnings-growth ratio of 0.72 and a beta of 1.44. The firm’s 50 day simple moving average is $24.40 and its 200-day simple moving average is $25.77. Foot Locker has a one year low of $20.47 and a one year high of $35.60.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The business had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. As a group, equities analysts predict that Foot Locker will post 1.48 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Foot Locker in the third quarter valued at about $58,000. Virtu Financial LLC acquired a new position in Foot Locker in the 3rd quarter worth approximately $701,000. Neo Ivy Capital Management purchased a new position in Foot Locker during the 3rd quarter worth approximately $2,636,000. Geode Capital Management LLC lifted its stake in Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock valued at $49,319,000 after acquiring an additional 25,394 shares during the period. Finally, MML Investors Services LLC purchased a new stake in shares of Foot Locker in the 3rd quarter valued at $283,000.

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.