Foot Locker (NYSE:FL) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Foot Locker (NYSE:FL) from an underweight rating to a neutral rating in a research report report published on Thursday,Benzinga reports. The brokerage currently has $24.00 price objective on the athletic footwear retailer’s stock, up from their prior price objective of $16.00.

A number of other research analysts have also weighed in on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, March 5th. Robert W. Baird dropped their price objective on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, April 11th. Finally, UBS Group lowered their target price on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $21.19.

Foot Locker Stock Down 0.3%

Shares of NYSE FL opened at $23.84 on Thursday. Foot Locker has a 12-month low of $11.00 and a 12-month high of $33.94. The firm has a market cap of $2.27 billion, a PE ratio of -5.28, a P/E/G ratio of 0.53 and a beta of 1.42. The company’s fifty day simple moving average is $13.73 and its 200 day simple moving average is $18.62. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Foot Locker by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer’s stock worth $228,589,000 after buying an additional 210,832 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Foot Locker by 88.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after buying an additional 2,500,396 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Foot Locker by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,174,832 shares of the athletic footwear retailer’s stock worth $44,765,000 after buying an additional 136,836 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in Foot Locker by 20.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 2,290,707 shares of the athletic footwear retailer’s stock worth $32,299,000 after buying an additional 384,301 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in Foot Locker by 17.0% during the first quarter. American Century Companies Inc. now owns 1,940,528 shares of the athletic footwear retailer’s stock worth $27,361,000 after buying an additional 281,322 shares during 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.