BTIG Research Downgrades Foot Locker (NYSE:FL) to Neutral

Foot Locker (NYSE:FL) was downgraded by investment analysts at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Briefing.com reports.

A number of other equities research analysts also recently weighed in on the company. Citigroup decreased their target price on Foot Locker from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Thursday, August 24th. Williams Trading upgraded Foot Locker from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Bank of America reduced their target price on Foot Locker from $29.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, August 24th. Piper Sandler assumed coverage on shares of Foot Locker in a report on Tuesday, September 26th. They issued a “neutral” rating and a $19.00 price target on the stock. Finally, UBS Group reduced their price objective on shares of Foot Locker from $22.00 to $11.00 and set a “sell” rating for the company in a report on Thursday, August 24th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Foot Locker presently has an average rating of “Hold” and a consensus price target of $26.40.

Foot Locker Price Performance

NYSE FL opened at $23.27 on Tuesday. The stock has a 50-day simple moving average of $19.95 and a 200 day simple moving average of $24.14. Foot Locker has a twelve month low of $14.84 and a twelve month high of $47.22. The stock has a market capitalization of $2.19 billion, a PE ratio of 15.11 and a beta of 1.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.37 and a current ratio of 1.63.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Wednesday, August 23rd. The athletic footwear retailer reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. Foot Locker had a return on equity of 8.65% and a net margin of 1.76%. The company had revenue of $1.86 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same period in the prior year, the business earned $1.10 earnings per share. Foot Locker’s revenue for the quarter was down 9.9% compared to the same quarter last year. Research analysts anticipate that Foot Locker will post 1.3 EPS for the current year.

Insider Transactions at Foot Locker

In other Foot Locker news, CEO Mary N. Dillon purchased 5,510 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was acquired at an average cost of $18.17 per share, with a total value of $100,116.70. Following the completion of the acquisition, the chief executive officer now directly owns 27,649 shares of the company’s stock, valued at approximately $502,382.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Foot Locker

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC lifted its stake in shares of Foot Locker by 444.4% during the third quarter. Global Retirement Partners LLC now owns 1,666 shares of the athletic footwear retailer’s stock valued at $31,000 after acquiring an additional 1,360 shares during the period. Advisors Asset Management Inc. lifted its position in Foot Locker by 68.3% during the 1st quarter. Advisors Asset Management Inc. now owns 1,336 shares of the athletic footwear retailer’s stock valued at $40,000 after purchasing an additional 542 shares during the period. Geneos Wealth Management Inc. bought a new position in shares of Foot Locker in the 2nd quarter valued at about $42,000. National Bank of Canada FI grew its position in shares of Foot Locker by 200.5% during the 2nd quarter. National Bank of Canada FI now owns 1,641 shares of the athletic footwear retailer’s stock worth $44,000 after buying an additional 1,095 shares during the period. Finally, Harbour Investments Inc. grew its position in shares of Foot Locker by 1,548.0% during the 2nd quarter. Harbour Investments Inc. now owns 1,648 shares of the athletic footwear retailer’s stock worth $45,000 after buying an additional 1,548 shares during the period.

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 youth culture 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.