Foot Locker (NYSE:FL – Get Free Report) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
Several other research analysts have also weighed in on the company. Guggenheim lowered their price objective on Foot Locker from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Evercore ISI upgraded Foot Locker from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $28.00 to $32.00 in a research report on Monday, March 25th. UBS Group raised Foot Locker from a “sell” rating to a “neutral” rating and raised their price target for the stock from $12.00 to $23.00 in a report on Monday, March 11th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $28.00 price objective (down previously from $38.00) on shares of Foot Locker in a report on Thursday, March 7th. Finally, Citigroup raised Foot Locker from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $19.00 to $24.00 in a report on Friday, March 22nd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Foot Locker has an average rating of “Hold” and a consensus target price of $24.94.
Get Our Latest Stock Report on FL
Foot Locker Stock Performance
Foot Locker (NYSE:FL – Get Free Report) last announced its 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. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The business had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Foot Locker will post 1.56 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC raised its holdings in Foot Locker by 444.4% in the 3rd quarter. Global Retirement Partners LLC now owns 1,666 shares of the athletic footwear retailer’s stock valued at $31,000 after acquiring an additional 1,360 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Foot Locker during the 3rd quarter valued at $310,000. State of Alaska Department of Revenue grew its stake in shares of Foot Locker by 416.6% during the 3rd quarter. State of Alaska Department of Revenue now owns 50,848 shares of the athletic footwear retailer’s stock valued at $882,000 after buying an additional 41,005 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Foot Locker during the 3rd quarter valued at $219,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Foot Locker during the 3rd quarter valued at $235,000.
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.
Further Reading
- Five stocks we like better than Foot Locker
- What to Know About Investing in Penny Stocks
- Charles Schwab Fortifies its Uptrend on EPS Beat
- How to Calculate Options Profits
- Lockheed Martin Stock Aims for a Fresh All-Time High
- What does consumer price index measure?
- Beyond the Halving: The Future of Bitcoin Mining Stocks
Receive News & Ratings for Foot Locker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foot Locker and related companies with MarketBeat.com's FREE daily email newsletter.