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

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

FL has been the subject of a number of other research reports. Evercore ISI upgraded Foot Locker from an in-line rating to an outperform rating and boosted their target price for the stock from $28.00 to $32.00 in a research report on Monday, March 25th. Morgan Stanley upped their target price on shares of Foot Locker from $20.00 to $24.00 and gave the company an equal weight rating in a research report on Friday, May 31st. Citigroup upgraded shares of Foot Locker from a sell rating to a neutral rating and lifted their price target for the stock from $19.00 to $24.00 in a research report on Friday, March 22nd. Wedbush restated a neutral rating and issued a $25.00 price objective on shares of Foot Locker in a report on Wednesday, June 12th. Finally, Piper Sandler dropped their target price on shares of Foot Locker from $37.00 to $31.00 and set an overweight rating for the company in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $24.81.

Foot Locker Stock Up 3.2 %

FL opened at $25.11 on Wednesday. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of -6.63, a PEG ratio of 0.57 and a beta of 1.47. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.50 and a current ratio of 1.68. The firm’s 50-day simple moving average is $23.31 and its 200-day simple moving average is $26.85. Foot Locker has a twelve month low of $14.84 and a twelve month high of $35.60.

Foot Locker (NYSE:FL) last announced its earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 EPS for the quarter, topping the consensus estimate of $0.12 by $0.10. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. Foot Locker’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 EPS. Equities research analysts anticipate that Foot Locker will post 1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Foot Locker by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock valued at $178,580,000 after purchasing an additional 902,610 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Foot Locker by 326.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock valued at $26,256,000 after buying an additional 705,237 shares during the period. Norges Bank acquired a new stake in shares of Foot Locker in the fourth quarter valued at approximately $21,238,000. Vaughan Nelson Investment Management L.P. bought a new position in shares of Foot Locker during the 4th quarter worth approximately $20,717,000. Finally, AQR Capital Management LLC increased its holdings in shares of Foot Locker by 110.4% during the 3rd quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock worth $12,687,000 after acquiring an additional 383,724 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.