Foot Locker (FL) Lifted to “Positive” at OTR Global

Foot Locker (NYSE:FL) was upgraded by research analysts at OTR Global to a “positive” rating in a research note issued to investors on Friday, The Fly reports.

FL has been the subject of a number of other research reports. Jefferies Group set a $61.00 price target on Foot Locker and gave the company a “buy” rating in a report on Friday, November 17th. Canaccord Genuity set a $67.00 price target on Foot Locker and gave the company a “buy” rating in a report on Sunday, January 7th. Barclays boosted their price target on Foot Locker from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Telsey Advisory Group upgraded Foot Locker from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $44.00 to $56.00 in a report on Friday, January 19th. Finally, Zacks Investment Research lowered Foot Locker from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Foot Locker presently has an average rating of “Buy” and an average target price of $56.15.

Shares of Foot Locker (NYSE:FL) traded down $0.46 during midday trading on Friday, hitting $45.42. The company had a trading volume of 1,201,827 shares, compared to its average volume of 3,251,021. The company has a quick ratio of 2.09, a current ratio of 4.41 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $5,819.05, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.80. Foot Locker has a 12-month low of $28.42 and a 12-month high of $77.86.

Foot Locker (NYSE:FL) last announced its quarterly 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 firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. Foot Locker had a return on equity of 19.96% and a net margin of 6.79%. Foot Locker’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. equities research analysts anticipate that Foot Locker will post 4.1 earnings per share for the current year.

In other news, Director Matthew M. Mckenna sold 10,899 shares of the company’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total transaction of $499,392.18. Following the transaction, the director now directly owns 35,000 shares of the company’s stock, valued at $1,603,700. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Richard A. Johnson sold 25,000 shares of the company’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $50.05, for a total value of $1,251,250.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,899 shares of company stock worth $2,801,692. Insiders own 2.90% of the company’s stock.

Several hedge funds have recently modified their holdings of FL. Vanguard Group Inc. increased its position in shares of Foot Locker by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,187,732 shares of the athletic footwear retailer’s stock valued at $649,891,000 after acquiring an additional 201,518 shares during the period. BlackRock Inc. increased its position in shares of Foot Locker by 2,189.3% in the 1st quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock valued at $685,553,000 after acquiring an additional 8,763,641 shares during the period. FMR LLC increased its position in shares of Foot Locker by 7.6% in the 4th quarter. FMR LLC now owns 7,218,272 shares of the athletic footwear retailer’s stock valued at $511,703,000 after acquiring an additional 509,160 shares during the period. State Street Corp increased its position in shares of Foot Locker by 1.7% in the 1st quarter. State Street Corp now owns 6,167,116 shares of the athletic footwear retailer’s stock valued at $461,353,000 after acquiring an additional 105,750 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in shares of Foot Locker by 0.7% in the 3rd quarter. BlackRock Institutional Trust Company N.A. now owns 3,893,384 shares of the athletic footwear retailer’s stock valued at $263,660,000 after acquiring an additional 25,342 shares during the period. 89.01% of the stock is currently owned by institutional investors and hedge funds.

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Foot Locker Company Profile

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.

The Fly

Analyst Recommendations for Foot Locker (NYSE:FL)

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