Foot Locker (FL) Raised to “Buy” at Buckingham Research
Foot Locker (NYSE:FL) was upgraded by research analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a research report issued on Friday, Marketbeat reports. The firm currently has a $57.00 price objective on the athletic footwear retailer’s stock. Buckingham Research’s price target points to a potential upside of 21.38% from the stock’s current price.
Other equities research analysts also recently issued research reports about the stock. Robert W. Baird reaffirmed a “hold” rating and set a $52.00 price objective on shares of Foot Locker in a research report on Wednesday. Zacks Investment Research raised shares of Foot Locker from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Tuesday, December 26th. Citigroup reaffirmed a “buy” rating and set a $54.00 price objective on shares of Foot Locker in a research report on Tuesday, December 19th. Canaccord Genuity raised shares of Foot Locker from a “hold” rating to a “buy” rating and boosted their price objective for the company from $42.00 to $64.00 in a research report on Friday, December 15th. Finally, Standpoint Research downgraded shares of Foot Locker from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a research report on Monday, December 4th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $53.69.
Shares of Foot Locker (NYSE:FL) traded up $0.65 during trading on Friday, hitting $46.96. 3,101,827 shares of the stock were exchanged, compared to its average volume of 3,444,975. The firm has a market cap of $5,690.00, a price-to-earnings ratio of 11.83, a PEG ratio of 2.35 and a beta of 0.82. The company has a current ratio of 4.41, a quick ratio of 2.09 and a debt-to-equity ratio of 0.05. Foot Locker has a 1-year low of $28.42 and a 1-year high of $77.86.
Foot Locker (NYSE:FL) last issued its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.82 billion. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.13 EPS. equities analysts expect that Foot Locker will post 4.08 EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in shares of Foot Locker by 1,744.5% in the second quarter. Renaissance Technologies LLC now owns 1,372,300 shares of the athletic footwear retailer’s stock valued at $67,627,000 after acquiring an additional 1,297,900 shares in the last quarter. Rockefeller Financial Services Inc. bought a new position in shares of Foot Locker in the third quarter valued at approximately $42,618,000. Bank of New York Mellon Corp boosted its holdings in shares of Foot Locker by 32.0% in the third quarter. Bank of New York Mellon Corp now owns 3,591,593 shares of the athletic footwear retailer’s stock valued at $126,495,000 after acquiring an additional 870,899 shares in the last quarter. Koch Industries Inc. bought a new position in shares of Foot Locker in the second quarter valued at approximately $720,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Foot Locker by 1,911.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 384,296 shares of the athletic footwear retailer’s stock valued at $13,535,000 after acquiring an additional 365,193 shares in the last quarter. Hedge funds and other institutional investors own 89.85% of the company’s stock.
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About Foot Locker
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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