Foot Locker (NYSE:FL) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Foot Locker (NYSE:FL - Free Report) from a sell rating to a hold rating in a research note published on Thursday.

A number of other brokerages also recently weighed in on FL. JPMorgan Chase & Co. lowered their target price on shares of Foot Locker from $23.00 to $20.00 and set an "underweight" rating on the stock in a report on Friday, January 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $24.00 price objective on shares of Foot Locker in a research report on Wednesday, March 5th. Piper Sandler dropped their price target on Foot Locker from $23.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. 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 report on Monday, March 3rd. Finally, UBS Group cut their target price on shares of Foot Locker from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, March 6th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $22.81.

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Foot Locker Stock Down 6.5 %

Shares of FL stock traded down $0.81 on Thursday, hitting $11.61. 1,902,283 shares of the stock were exchanged, compared to its average volume of 3,372,849. The firm has a market capitalization of $1.10 billion, a P/E ratio of -2.54, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41. The business has a 50-day moving average of $17.29 and a 200 day moving average of $21.07. 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 has a fifty-two week low of $11.31 and a fifty-two week high of $33.94.

Foot Locker (NYSE:FL - Get Free Report) last released its earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The firm's revenue for the quarter was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Foot Locker will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Several institutional investors and hedge funds have recently bought and sold shares of FL. Harbour Investments Inc. increased its holdings in 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 buying an additional 648 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Foot Locker during the fourth quarter valued at approximately $32,000. R Squared Ltd acquired a new position in Foot Locker during the fourth quarter valued at approximately $50,000. Sterling Capital Management LLC lifted its stake in Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer's stock worth $57,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Foot Locker in the 3rd quarter valued at $58,000.

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.