Foot Locker (NYSE:FL) Cut 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 published on Tuesday.

FL has been the topic of several other reports. Telsey Advisory Group reaffirmed a market perform rating and issued a $28.00 price target (down from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Morgan Stanley reduced their price objective on Foot Locker from $28.00 to $26.00 and set an equal weight rating for the company in a research report on Thursday, March 7th. Jefferies Financial Group dropped their target price on shares of Foot Locker from $25.00 to $24.00 and set a hold rating on the stock in a research report on Wednesday, March 6th. Guggenheim reduced their price target on shares of Foot Locker from $35.00 to $30.00 and set a buy rating for the company in a report on Thursday, March 7th. Finally, Bank of America dropped their price objective on shares of Foot Locker from $31.00 to $27.00 and set a neutral rating on the stock in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $24.94.

Foot Locker Price Performance

NYSE FL opened at $21.81 on Tuesday. The firm has a market cap of $2.06 billion, a P/E ratio of -6.23, a price-to-earnings-growth ratio of 0.49 and a beta of 1.50. The stock’s 50-day moving average is $25.34 and its two-hundred day moving average is $26.34. Foot Locker has a fifty-two week low of $14.84 and a fifty-two week high of $42.19. 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 (NYSE:FL) last posted its 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. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the previous year, the company earned $0.97 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts anticipate that Foot Locker will post 1.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

Several large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its position in shares of Foot Locker by 445.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 27,477 shares of the athletic footwear retailer’s stock valued at $477,000 after acquiring an additional 22,443 shares during the last quarter. AQR Capital Management LLC increased its holdings in 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 purchasing an additional 383,724 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Foot Locker in the fourth quarter valued at about $20,717,000. Vanguard Group Inc. boosted its holdings in Foot Locker by 9.6% during the third quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock worth $178,580,000 after buying an additional 902,610 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position 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 worth $882,000 after buying an additional 41,005 shares during the period.

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.