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

StockNews.com lowered shares of Foot Locker (NYSE:FL) from a hold rating to a sell rating in a report published on Tuesday morning.

A number of other research firms also recently commented on FL. Morgan Stanley decreased their target price on Foot Locker from $28.00 to $26.00 and set an equal weight rating on the stock in a research report on Thursday, March 7th. Barclays decreased their target price on Foot Locker from $26.00 to $22.00 and set an equal weight rating on the stock in a research report on Thursday, March 7th. Telsey Advisory Group reissued a market perform rating and issued a $28.00 price target (down from $38.00) on shares of Foot Locker in a report on Thursday, March 7th. Evercore ISI raised Foot Locker from an in-line rating to an outperform rating and boosted their price target for the stock from $28.00 to $32.00 in a report on Monday, March 25th. Finally, Bank of America cut their price target on Foot Locker from $31.00 to $27.00 and set a neutral rating for the company in a report on Thursday, March 7th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $24.94.

Foot Locker Stock Down 2.4 %

Foot Locker stock opened at $20.85 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.55. Foot Locker has a 1-year low of $14.84 and a 1-year high of $42.79. The company has a market cap of $1.97 billion, a PE ratio of -5.96, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The stock’s 50 day moving average price is $26.08 and its 200 day moving average price is $26.42.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $0.97 earnings per share. On average, sell-side analysts predict that Foot Locker will post 1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Institutional investors have recently added to or reduced their stakes in the business. Quadrant Capital Group LLC increased its stake in Foot Locker by 3,004.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock valued at $44,000 after purchasing an additional 1,352 shares during the last quarter. CWM LLC increased its stake in Foot Locker by 26.7% during the fourth 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 last quarter. Signaturefd LLC increased its stake in Foot Locker by 105.9% during the third quarter. Signaturefd LLC now owns 5,272 shares of the athletic footwear retailer’s stock worth $91,000 after acquiring an additional 2,712 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Foot Locker during the fourth quarter worth about $100,000. Finally, Sunbelt Securities Inc. acquired a new stake in Foot Locker during the first quarter worth about $100,000.

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.