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

Foot Locker (NYSE:FL) was upgraded by investment analysts at Williams Trading from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a $21.00 target price on the athletic footwear retailer’s stock, up from their prior target price of $17.00. Williams Trading’s price target would suggest a potential downside of 17.06% from the stock’s current price.

FL has been the subject of a number of other research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd. Gordon Haskett began coverage on shares of Foot Locker in a report on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target for the company. Evercore ISI lowered their price target on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday. StockNews.com lowered shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $27.00 price objective on shares of Foot Locker in a report on Wednesday, August 28th. Three 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. Based on data from MarketBeat.com, Foot Locker presently has an average rating of “Hold” and a consensus price target of $26.56.

Foot Locker Stock Performance

Shares of NYSE FL traded up $0.84 during midday trading on Wednesday, hitting $25.32. The company’s stock had a trading volume of 1,712,865 shares, compared to its average volume of 3,234,743. The stock has a fifty day moving average price of $24.51 and a 200 day moving average price of $25.77. Foot Locker has a one year low of $20.47 and a one year high of $35.60. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of -6.54, a P/E/G ratio of 0.72 and a beta of 1.44.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. On average, research analysts forecast that Foot Locker will post 1.49 EPS for the current fiscal year.

Institutional Trading of Foot Locker

Several institutional investors have recently bought and sold shares of FL. Allspring Global Investments Holdings LLC grew its position in Foot Locker by 23.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock valued at $72,279,000 after purchasing an additional 557,489 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Foot Locker during the 2nd quarter valued at about $10,005,000. Stifel Financial Corp grew its position in Foot Locker by 43.3% during the 3rd quarter. Stifel Financial Corp now owns 897,904 shares of the athletic footwear retailer’s stock valued at $23,202,000 after purchasing an additional 271,297 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Foot Locker by 10.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,135,474 shares of the athletic footwear retailer’s stock valued at $29,341,000 after acquiring an additional 106,402 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Foot Locker during the 3rd quarter valued at about $2,636,000.

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.