Foot Locker (NYSE:FL) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Foot Locker (NYSE:FL) from a sell rating to a hold rating in a report issued on Thursday morning.

A number of other equities analysts have also recently commented on the company. Piper Sandler decreased their price target on Foot Locker from $23.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $24.00 target price on shares of Foot Locker in a research note on Wednesday, March 5th. Evercore ISI dropped their price target on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Robert W. Baird cut their price target on shares of Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley lowered their price objective on shares of Foot Locker from $17.00 to $16.00 and set an “underweight” rating for the company in a research note on Friday, December 6th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and a consensus target price of $22.81.

Foot Locker Price Performance

Shares of Foot Locker stock opened at $12.65 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. Foot Locker has a 52-week low of $11.31 and a 52-week high of $33.94. The company has a fifty day moving average of $17.44 and a 200-day moving average of $21.23. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -2.80, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.13. The business had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. Equities research analysts expect that Foot Locker will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after acquiring an additional 2,500,396 shares in the last quarter. Cramer Rosenthal Mcglynn LLC purchased a new stake in Foot Locker in the fourth quarter worth about $34,835,000. Cooper Creek Partners Management LLC bought a new position in shares of Foot Locker during the fourth quarter valued at approximately $30,416,000. Segall Bryant & Hamill LLC purchased a new position in shares of Foot Locker during the fourth quarter valued at approximately $18,640,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Foot Locker by 67.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after purchasing an additional 770,932 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.