Foot Locker (NYSE:FL) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of Foot Locker (NYSE:FL) from a hold rating to a sell rating in a research note issued to investors on Friday.

FL has been the topic of several other reports. Guggenheim dropped their price objective on Foot Locker from $35.00 to $30.00 and set a buy rating on the stock in a report on Thursday, March 7th. Jefferies Financial Group lowered their price objective on Foot Locker from $25.00 to $24.00 and set a hold rating for the company in a research note on Wednesday, March 6th. Barclays lowered their price objective on Foot Locker from $26.00 to $22.00 and set an equal weight rating for the company in a research note on Thursday, March 7th. Piper Sandler lowered their price objective on Foot Locker from $37.00 to $31.00 and set an overweight rating for the company in a research note on Thursday, March 7th. Finally, Evercore ISI upgraded 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 research report on Monday, March 25th. Four equities 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 stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $24.20.

Foot Locker Trading Up 0.7 %

NYSE:FL traded up $0.16 on Friday, reaching $22.07. The company’s stock had a trading volume of 2,026,731 shares, compared to its average volume of 2,811,035. Foot Locker has a 12-month low of $14.84 and a 12-month high of $35.60. The company has a quick ratio of 0.55, a current ratio of 1.72 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $23.34 and a 200 day moving average price of $26.52. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -6.31, a price-to-earnings-growth ratio of 0.53 and a beta of 1.50.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. The firm had revenue of $2.38 billion during 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%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.97 earnings per share. On average, equities analysts anticipate that Foot Locker will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its position in shares of Foot Locker by 445.8% in the 3rd quarter. Tower Research Capital LLC TRC now owns 27,477 shares of the athletic footwear retailer’s stock worth $477,000 after purchasing an additional 22,443 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Foot Locker by 110.4% in the third quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock valued at $12,687,000 after acquiring an additional 383,724 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Foot Locker during the fourth quarter worth approximately $20,717,000. Vanguard Group Inc. raised its stake in Foot Locker by 9.6% in the third quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock valued at $178,580,000 after buying an additional 902,610 shares during the period. Finally, Citigroup Inc. raised its stake in Foot Locker by 18.6% in the third quarter. Citigroup Inc. now owns 194,542 shares of the athletic footwear retailer’s stock valued at $3,375,000 after buying an additional 30,497 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.