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

Foot Locker (NYSE:FL) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

FL has been the topic of a number of other research reports. Evercore ISI upgraded Foot Locker from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $28.00 to $32.00 in a research note on Monday, March 25th. UBS Group upgraded shares of Foot Locker from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $12.00 to $23.00 in a research note on Monday, March 11th. Jefferies Financial Group dropped their target price on shares of Foot Locker from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Piper Sandler reduced their price target on shares of Foot Locker from $37.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, March 7th. Finally, Bank of America lowered their price objective on shares of Foot Locker from $31.00 to $27.00 and set a “neutral” rating for the company in a research 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, the company presently has a consensus rating of “Hold” and an average target price of $24.94.

Foot Locker Trading Down 2.8 %

FL stock opened at $21.36 on Tuesday. Foot Locker has a one year low of $14.84 and a one year high of $42.79. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of -6.10, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The company has a fifty day moving average price of $26.08 and a two-hundred day moving average price of $26.42. 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 announced its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share 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 analyst estimates of $2.28 billion. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.97 earnings per share. Equities analysts anticipate that Foot Locker will post 1.56 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

A number of institutional investors and hedge funds have recently modified their holdings of FL. Barclays PLC grew its stake in shares of Foot Locker by 385.6% in the 3rd quarter. Barclays PLC now owns 1,746,876 shares of the athletic footwear retailer’s stock valued at $30,307,000 after buying an additional 1,387,154 shares during the period. Vanguard Group Inc. grew 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 acquiring an additional 902,610 shares during the period. Norges Bank bought a new stake in shares of Foot Locker during the fourth quarter valued at approximately $21,238,000. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Foot Locker during the fourth quarter worth approximately $20,717,000. Finally, AQR Capital Management LLC lifted its holdings in shares of Foot Locker by 110.4% in the 3rd quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock worth $12,687,000 after purchasing an additional 383,724 shares in the last quarter.

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.