Foot Locker (NYSE:FL) Rating Increased 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 Tuesday.

FL has been the subject of several other research reports. UBS Group raised shares of Foot Locker from a sell rating to a neutral rating and boosted their target price for the stock from $12.00 to $23.00 in a research report on Monday, March 11th. Evercore ISI raised shares of Foot Locker from an in-line rating to an outperform rating and boosted their target price for the stock from $28.00 to $32.00 in a research report on Monday, March 25th. Guggenheim dropped their target price 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. Piper Sandler dropped their target price on shares of Foot Locker from $37.00 to $31.00 and set an overweight rating for the company in a research report on Thursday, March 7th. Finally, Morgan Stanley lifted their price target on shares of Foot Locker from $20.00 to $24.00 and gave the company an equal weight rating in a report on Friday, May 31st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $24.81.

Foot Locker Stock Performance

Foot Locker stock opened at $24.12 on Tuesday. Foot Locker has a 12-month low of $14.84 and a 12-month high of $35.60. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -6.40, a price-to-earnings-growth ratio of 0.60 and a beta of 1.47. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.68 and a quick ratio of 0.50. The firm’s fifty day moving average price is $23.26 and its 200 day moving average price is $26.88.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.10. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. On average, research analysts forecast that Foot Locker will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund lifted its stake in shares of Foot Locker by 1.1% in the 4th quarter. New York State Common Retirement Fund now owns 33,635 shares of the athletic footwear retailer’s stock worth $1,048,000 after acquiring an additional 353 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of Foot Locker by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,662 shares of the athletic footwear retailer’s stock worth $831,000 after acquiring an additional 358 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Foot Locker by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 44,686 shares of the athletic footwear retailer’s stock worth $1,392,000 after acquiring an additional 380 shares during the period. CWM LLC lifted its stake in shares of Foot Locker by 26.7% in the 4th quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock worth $57,000 after acquiring an additional 387 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Foot Locker by 10.0% in the 4th quarter. Signaturefd LLC now owns 5,799 shares of the athletic footwear retailer’s stock worth $181,000 after acquiring an additional 527 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.