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

StockNews.com lowered shares of Foot Locker (NYSE:FL - Free Report) from a hold rating to a sell rating in a research note released on Tuesday.

A number of other equities analysts have also recently commented on FL. Citigroup raised Foot Locker from a sell rating to a neutral rating and boosted their price target for the stock from $19.00 to $24.00 in a report on Friday, March 22nd. Piper Sandler lowered their price target on Foot Locker from $37.00 to $31.00 and set an overweight rating for the company in a report on Thursday, March 7th. Barclays reduced their price objective on Foot Locker from $26.00 to $22.00 and set an equal weight rating on the stock in a research report on Thursday, March 7th. UBS Group upgraded Foot Locker from a sell rating to a neutral rating and boosted their price objective for the stock from $12.00 to $23.00 in a research report on Monday, March 11th. Finally, Evercore ISI upgraded Foot Locker from an in-line rating to an outperform rating and boosted their price objective for the stock from $28.00 to $32.00 in a research report on Monday, March 25th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $24.94.

Foot Locker Stock Performance

NYSE:FL traded down $0.51 during mid-day trading on Tuesday, hitting $20.85. 3,525,230 shares of the stock were exchanged, compared to its average volume of 3,646,509. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of -5.96, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. The firm's 50-day simple moving average is $26.08 and its 200 day simple moving average is $26.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 1.72. Foot Locker has a fifty-two week low of $14.84 and a fifty-two week high of $42.79.

Foot Locker (NYSE:FL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.28 billion. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The company's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.97 EPS. As a group, equities analysts anticipate that Foot Locker will post 1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Foot Locker

A number of large investors have recently made changes to their positions in FL. Quadrant Capital Group LLC raised its position in shares of Foot Locker by 3,004.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer's stock worth $44,000 after buying an additional 1,352 shares in the last quarter. CWM LLC raised its position in shares of Foot Locker by 26.7% in the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer's stock worth $57,000 after buying an additional 387 shares in the last quarter. Signaturefd LLC raised its position in Foot Locker by 105.9% during the third quarter. Signaturefd LLC now owns 5,272 shares of the athletic footwear retailer's stock valued at $91,000 after purchasing an additional 2,712 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in Foot Locker during the fourth quarter valued at about $100,000. Finally, Sunbelt Securities Inc. purchased a new stake in Foot Locker during the first quarter valued at about $100,000.

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.