Foot Locker, Inc. (FL) Given “Hold” Rating at FBR & Co
Foot Locker, Inc. (NYSE:FL)‘s stock had its “hold” rating reiterated by FBR & Co in a research note issued to investors on Monday.
The analysts wrote, “We are reiterating our Buy rating, estimates and $13 price target for 1-800- FLOWERS.COM with the company announcing 4QFY17 (June) results before the open on Thursday. Although 4Q is traditionally an unimportant quarter with virtually no major gifting events, we believe it is important for 1-800-FLOWERS.COM, after a disastrous quarter by direct competitor FTD, to demonstrate it is taking share in floral (as opposed to the segment shrinking); we believe they will register solid floral growth. Further, we remain positive on the potential for upside from the initial FY18 guide, which should register better Holiday results with Harry & David and continued solid floral results.””
FL has been the subject of several other research reports. Barclays PLC reiterated an “overweight” rating and issued a $80.00 price objective on shares of Foot Locker in a research report on Thursday, June 22nd. Morgan Stanley upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $70.00 to $65.00 in a research report on Tuesday, August 8th. Wedbush reiterated an “outperform” rating and issued a $83.00 price objective on shares of Foot Locker in a research report on Wednesday, May 17th. Credit Suisse Group reiterated a “neutral” rating and issued a $52.00 price objective (down previously from $66.00) on shares of Foot Locker in a research report on Tuesday, August 1st. Finally, Standpoint Research began coverage on Foot Locker in a research report on Monday, June 12th. They issued a “buy” rating and a $66.00 price objective for the company. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $66.41.
Foot Locker (NYSE FL) opened at 35.25 on Monday. The firm has a 50 day moving average of $46.60 and a 200-day moving average of $62.46. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 8.15 and a beta of 0.68. Foot Locker has a 52-week low of $31.56 and a 52-week high of $79.43. Foot Locker also was the recipient of unusually large options trading on Monday. Stock traders purchased 7,692 call options on the stock. This represents an increase of approximately 126% compared to the typical volume of 3,406 call options.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by $0.28. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Foot Locker had a return on equity of 7.16% and a net margin of 3.00%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.94 EPS. Equities analysts expect that Foot Locker will post $4.06 EPS for the current year.
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A number of hedge funds have recently modified their holdings of the company. YorkBridge Wealth Partners LLC raised its stake in shares of Foot Locker by 18.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,360 shares of the athletic footwear retailer’s stock worth $104,000 after buying an additional 213 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Foot Locker by 50.0% in the first quarter. Acrospire Investment Management LLC now owns 1,500 shares of the athletic footwear retailer’s stock worth $112,000 after buying an additional 500 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Foot Locker by 5.6% in the first quarter. Van ECK Associates Corp now owns 2,047 shares of the athletic footwear retailer’s stock worth $153,000 after buying an additional 109 shares during the last quarter. D.A. Davidson & CO. raised its stake in shares of Foot Locker by 50.3% in the second quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock worth $105,000 after buying an additional 714 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Foot Locker by 3.5% in the first quarter. Pacer Advisors Inc. now owns 2,630 shares of the athletic footwear retailer’s stock worth $197,000 after buying an additional 88 shares during the last quarter. 93.49% of the stock is currently owned by hedge funds and other institutional investors.
About Foot Locker
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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