Foot Locker (NYSE:FL) Rating Increased to Hold at Williams Trading

Williams Trading upgraded shares of Foot Locker (NYSE:FL) from a sell rating to a hold rating in a research note released on Wednesday morning,Benzinga reports. They currently have $21.00 target price on the athletic footwear retailer’s stock, up from their previous target price of $17.00.

Several other research firms also recently issued reports on FL. Barclays upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $27.00 to $34.00 in a research note on Thursday, August 29th. Piper Sandler restated a “neutral” rating and issued a $30.00 price target on shares of Foot Locker in a research note on Friday, August 23rd. StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Gordon Haskett initiated coverage on Foot Locker in a research note on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price target for the company. Finally, Robert W. Baird lowered their price objective on Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $26.56.

Foot Locker Stock Performance

Shares of NYSE FL opened at $25.31 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.40 billion, a P/E ratio of -6.54, a P/E/G ratio of 0.72 and a beta of 1.44. Foot Locker has a 12 month low of $20.47 and a 12 month high of $35.60. The stock has a 50 day moving average of $24.45 and a 200-day moving average of $25.77.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. As a group, equities research analysts predict that Foot Locker will post 1.49 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Foot Locker during the third quarter valued at $58,000. Virtu Financial LLC acquired a new stake in Foot Locker in the third quarter valued at $701,000. Neo Ivy Capital Management bought a new position in Foot Locker during the 3rd quarter worth $2,636,000. Geode Capital Management LLC lifted its holdings in Foot Locker by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after buying an additional 25,394 shares during the period. Finally, MML Investors Services LLC bought a new stake in shares of Foot Locker in the 3rd quarter valued at about $283,000.

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.