Foot Locker (NYSE:FL) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Foot Locker (NYSE:FL) from a sell rating to a hold rating in a report published on Monday.

Other equities analysts have also issued reports about the stock. UBS Group upgraded shares of Foot Locker from a sell rating to a neutral rating and raised their price objective for the company from $12.00 to $23.00 in a research report on Monday, March 11th. Morgan Stanley cut their price objective on shares of Foot Locker from $28.00 to $26.00 and set an equal weight rating for the company in a research report on Thursday, March 7th. Guggenheim cut their price objective on shares of Foot Locker from $35.00 to $30.00 and set a buy rating for the company in a research report on Thursday, March 7th. Telsey Advisory Group restated a market perform rating and issued a $28.00 price objective (down from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Finally, Barclays cut their price objective on shares of Foot Locker from $26.00 to $22.00 and set an equal weight rating for the company in a research report on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $24.94.

Foot Locker Price Performance

Shares of NYSE:FL opened at $22.86 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.72 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.16 billion, a PE ratio of -6.53, a P/E/G ratio of 0.51 and a beta of 1.43. Foot Locker has a twelve month low of $14.84 and a twelve month high of $42.79. The company has a 50-day moving average price of $26.63 and a two-hundred day moving average price of $26.36.

Foot Locker (NYSE:FL) last issued its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.97 earnings per share. Equities analysts forecast that Foot Locker will post 1.56 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in FL. 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 worth $178,580,000 after buying an additional 902,610 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Foot Locker by 0.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,597,105 shares of the athletic footwear retailer’s stock worth $45,060,000 after buying an additional 16,953 shares during the period. Barclays PLC increased its stake in shares of Foot Locker by 385.6% in the third quarter. Barclays PLC now owns 1,746,876 shares of the athletic footwear retailer’s stock worth $30,307,000 after buying an additional 1,387,154 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Foot Locker by 9.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock worth $29,738,000 after buying an additional 81,684 shares during the period. Finally, AQR Capital Management LLC increased its stake in shares of Foot Locker by 110.4% in the third quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock worth $12,687,000 after buying an additional 383,724 shares during the period.

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.