Foot Locker (NYSE:FL) Raised to "Hold" at StockNews.com

Foot Locker (NYSE:FL - Get Free Report) was upgraded by StockNews.com from a "sell" rating to a "hold" rating in a research report issued on Monday.

A number of other analysts have also recently commented on FL. Piper Sandler cut their price target on shares of Foot Locker from $37.00 to $31.00 and set an "overweight" rating for the company in a research note on Thursday, March 7th. Citigroup upgraded Foot Locker from a "sell" rating to a "neutral" rating and upped their price objective for the company from $19.00 to $24.00 in a research note on Friday, March 22nd. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $28.00 price objective (down from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Barclays decreased their target price on Foot Locker from $26.00 to $22.00 and set an "equal weight" rating on the stock in a report on Thursday, March 7th. Finally, UBS Group raised Foot Locker from a "sell" rating to a "neutral" rating and raised their price target for the company from $12.00 to $23.00 in a report on Monday, March 11th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Foot Locker has an average rating of "Hold" and a consensus target price of $24.94.

Foot Locker Stock Down 0.7 %

FL stock traded down $0.16 during trading hours on Monday, reaching $21.55. 2,886,044 shares of the stock were exchanged, compared to its average volume of 3,711,772. The firm's 50-day moving average is $26.93 and its 200-day moving average is $26.37. Foot Locker has a 12 month low of $14.84 and a 12 month high of $42.79. The company has a market cap of $2.04 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 0.52 and a beta of 1.43. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The company had revenue of $2.38 billion during the quarter, compared to analysts' expectations of $2.28 billion. During the same period last year, the business earned $0.97 EPS. The business's quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Foot Locker will post 1.56 earnings per share for the current year.

Institutional Trading of Foot Locker

A number of hedge funds have recently added to or reduced their stakes in FL. Global Retirement Partners LLC increased its stake in shares of Foot Locker by 444.4% in the third quarter. Global Retirement Partners LLC now owns 1,666 shares of the athletic footwear retailer's stock valued at $31,000 after buying an additional 1,360 shares during the period. SG Americas Securities LLC acquired a new position in Foot Locker in the 3rd quarter valued at approximately $310,000. State of Alaska Department of Revenue increased its position in Foot Locker by 416.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 50,848 shares of the athletic footwear retailer's stock valued at $882,000 after acquiring an additional 41,005 shares during the period. Everence Capital Management Inc. bought a new position in shares of Foot Locker during the third quarter valued at $219,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Foot Locker during the third quarter worth $235,000.

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.

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