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

Foot Locker (NYSE:FL) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

A number of other equities research analysts have also recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $24.00 price objective on shares of Foot Locker in a report on Wednesday, March 5th. Jefferies Financial Group lowered their price objective on Foot Locker from $22.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Robert W. Baird reduced their target price on Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. UBS Group lowered their price target on Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Piper Sandler reduced their price objective on shares of Foot Locker from $23.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.81.

Foot Locker Stock Down 15.3 %

Shares of FL traded down $2.26 during mid-day trading on Thursday, reaching $12.47. The company’s stock had a trading volume of 10,057,881 shares, compared to its average volume of 3,335,545. Foot Locker has a 1 year low of $12.08 and a 1 year high of $33.94. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -2.76, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The business has a fifty day moving average of $17.60 and a 200 day moving average of $21.37.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.13. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.32 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm’s revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, analysts forecast that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Several large investors have recently added to or reduced their stakes in the company. Summit Investment Advisors Inc. grew its holdings in shares of Foot Locker by 6.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock worth $190,000 after purchasing an additional 562 shares in the last quarter. Harbour Investments Inc. boosted its stake in Foot Locker by 81.6% during the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after buying an additional 648 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in Foot Locker by 32.5% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock worth $84,000 after buying an additional 801 shares in the last quarter. Foundry Partners LLC increased its holdings in Foot Locker by 8.8% in the 4th quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock valued at $278,000 after buying an additional 1,031 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Foot Locker in the 4th quarter valued at $32,000.

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.