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

Foot Locker (NYSE:FL) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Tuesday.

Several other research firms have also recently weighed in on FL. Morgan Stanley cut their price target on shares of Foot Locker from $28.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, March 7th. Piper Sandler reduced their price target on shares of Foot Locker from $37.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Guggenheim lowered their price objective on shares of Foot Locker from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Telsey Advisory Group reiterated a “market perform” rating and set a $28.00 target price (down previously from $38.00) on shares of Foot Locker in a report on Thursday, March 7th. Finally, Citigroup upgraded Foot Locker from a “sell” rating to a “neutral” rating and raised their target price for the company from $19.00 to $24.00 in a research note on Friday, March 22nd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Foot Locker currently has a consensus rating of “Hold” and a consensus price target of $24.94.

Foot Locker Stock Performance

Shares of NYSE:FL opened at $20.60 on Tuesday. The company has a current ratio of 1.72, a quick ratio of 0.55 and a debt-to-equity ratio of 0.15. The company has a market cap of $1.95 billion, a price-to-earnings ratio of -5.89, a price-to-earnings-growth ratio of 0.51 and a beta of 1.43. Foot Locker has a 12 month low of $14.84 and a 12 month high of $42.19. The company has a 50-day moving average price of $25.84 and a 200-day moving average price of $26.42.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.04. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. Foot Locker’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.97 EPS. As a group, equities analysts anticipate that Foot Locker will post 1.55 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 902,610 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Foot Locker by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,597,105 shares of the athletic footwear retailer’s stock valued at $45,060,000 after acquiring an additional 16,953 shares during the last quarter. Barclays PLC lifted its holdings in Foot Locker by 385.6% in the third quarter. Barclays PLC now owns 1,746,876 shares of the athletic footwear retailer’s stock valued at $30,307,000 after acquiring an additional 1,387,154 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Foot Locker by 9.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock valued at $29,738,000 after purchasing an additional 81,684 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Foot Locker by 110.4% in the 3rd quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock worth $12,687,000 after purchasing an additional 383,724 shares during the period.

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.