StockNews.com cut shares of Foot Locker (NYSE:FL – Free Report) from a hold rating to a sell rating in a research report report published on Tuesday.
Several other analysts also recently commented on FL. Morgan Stanley decreased their target price on shares of Foot Locker from $28.00 to $26.00 and set an equal weight rating for the company in a research report on Thursday, March 7th. Jefferies Financial Group reduced their price objective on shares of Foot Locker from $25.00 to $24.00 and set a hold rating for the company in a research note on Wednesday, March 6th. Piper Sandler dropped their target price on shares of Foot Locker from $37.00 to $31.00 and set an overweight rating on the stock in a report on Thursday, March 7th. Guggenheim decreased their price target on shares of Foot Locker from $35.00 to $30.00 and set a buy rating for the company in a report on Thursday, March 7th. Finally, Citigroup raised Foot Locker from a sell rating to a neutral rating and raised their price target for the company from $19.00 to $24.00 in a research report on Friday, March 22nd. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $24.94.
Check Out Our Latest Analysis on FL
Foot Locker Stock Performance
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 business had revenue of $2.38 billion during the quarter, compared to analyst estimates 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 revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.97 earnings per share. As a group, sell-side analysts expect that Foot Locker will post 1.55 EPS for the current year.
Institutional Trading of Foot Locker
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in Foot Locker during the 3rd quarter worth $310,000. State of Alaska Department of Revenue increased its holdings in Foot Locker by 416.6% in the third quarter. State of Alaska Department of Revenue now owns 50,848 shares of the athletic footwear retailer’s stock valued at $882,000 after purchasing an additional 41,005 shares during the last quarter. Maryland State Retirement & Pension System acquired a new position in Foot Locker in the third quarter valued at about $522,000. Independent Advisor Alliance boosted its holdings in Foot Locker by 167.8% during the third quarter. Independent Advisor Alliance now owns 37,723 shares of the athletic footwear retailer’s stock worth $654,000 after buying an additional 23,639 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Foot Locker by 3.2% during the 3rd quarter. New York State Teachers Retirement System now owns 110,967 shares of the athletic footwear retailer’s stock worth $1,925,000 after buying an additional 3,410 shares during the period.
About Foot Locker
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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