Foot Locker (NYSE:FL) Stock Rating Upgraded by StockNews.com

Foot Locker (NYSE:FL) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

A number of other equities analysts have also recently commented on the stock. Evercore ISI reduced their price objective on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Guggenheim reduced their target price on shares of Foot Locker from $34.00 to $28.00 and set a “buy” rating for the company in a report on Thursday, December 5th. Robert W. Baird lowered their price target on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Jefferies Financial Group reduced their price objective on Foot Locker from $22.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Finally, Barclays set a $24.00 target price on Foot Locker in a research report on Wednesday, March 5th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.81.

Foot Locker Stock Up 1.6 %

Foot Locker stock opened at $12.65 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. The company’s 50-day moving average is $17.44 and its 200-day moving average is $21.28. The firm has a market capitalization of $1.20 billion, a PE ratio of -2.80, a P/E/G ratio of 0.53 and a beta of 1.41. Foot Locker has a fifty-two week low of $11.31 and a fifty-two week high of $33.94.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the business earned $0.38 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. Sell-side analysts anticipate that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. increased its holdings in Foot Locker by 81.6% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after buying an additional 648 shares during the period. Aster Capital Management DIFC Ltd acquired a new stake in shares of Foot Locker during the 4th quarter worth approximately $32,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Foot Locker during the 3rd quarter worth approximately $58,000. R Squared Ltd bought a new position in Foot Locker in the fourth quarter valued at approximately $50,000. Finally, Sterling Capital Management LLC raised its position in Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock valued at $57,000 after purchasing an additional 2,343 shares in the last quarter.

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.