Foot Locker (NYSE:FL) Downgraded to "Sell" Rating by StockNews.com

Foot Locker (NYSE:FL - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Friday.

Several other research analysts have also commented on the stock. Evercore ISI reduced their price objective on shares of Foot Locker from $30.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, March 3rd. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Barclays set a $24.00 price objective on Foot Locker in a report on Wednesday, March 5th. JPMorgan Chase & Co. reduced their target price on shares of Foot Locker from $23.00 to $20.00 and set an "underweight" rating on the stock in a research note on Friday, January 24th. Finally, Piper Sandler cut their price target on Foot Locker from $23.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Foot Locker has a consensus rating of "Hold" and a consensus target price of $21.69.

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Foot Locker Stock Down 0.4 %

FL traded down $0.05 during trading on Friday, reaching $11.16. The stock had a trading volume of 214,618 shares, compared to its average volume of 4,022,390. The stock's 50 day moving average is $16.11 and its two-hundred day moving average is $20.32. Foot Locker has a one year low of $11.06 and a one year high of $33.94. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -2.48, a P/E/G ratio of 0.53 and a beta of 1.41. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. The business had revenue of $2.25 billion during 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 business's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 EPS. As a group, analysts expect that Foot Locker will post 1.23 earnings per share for the current year.

Hedge Funds Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 valued at $190,000 after purchasing an additional 562 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of Foot Locker by 81.6% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer's stock valued at $31,000 after acquiring an additional 648 shares during the last quarter. Foundry Partners LLC raised its position in Foot Locker by 8.8% in the fourth quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer's stock valued at $278,000 after purchasing an additional 1,031 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Foot Locker during the 4th quarter worth approximately $32,000. Finally, GAMMA Investing LLC grew its stake in shares of Foot Locker by 250.6% in the first quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer's stock worth $35,000 after purchasing an additional 1,764 shares during the last quarter.

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.