Foot Locker (FL) Cut to Hold at Standpoint Research
Standpoint Research cut shares of Foot Locker (NYSE:FL) from a buy rating to a hold rating in a research report report published on Monday, Marketbeat.com reports. Standpoint Research currently has $66.00 price target on the athletic footwear retailer’s stock.
FL has been the subject of a number of other research reports. Deutsche Bank raised Foot Locker from a hold rating to a buy rating and raised their target price for the company from $38.00 to $45.00 in a report on Friday, November 17th. ValuEngine downgraded Foot Locker from a buy rating to a hold rating in a report on Friday, September 1st. Morgan Stanley reissued an overweight rating and issued a $50.00 target price (down previously from $65.00) on shares of Foot Locker in a report on Tuesday, August 29th. Piper Jaffray Companies set a $35.00 target price on Foot Locker and gave the company a hold rating in a report on Tuesday, November 14th. Finally, Oppenheimer reaffirmed a hold rating on shares of Foot Locker in a research note on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Foot Locker presently has an average rating of Hold and an average target price of $52.27.
Foot Locker (NYSE FL) traded up $0.40 during trading on Monday, reaching $43.22. The company’s stock had a trading volume of 5,177,600 shares, compared to its average volume of 3,590,286. Foot Locker has a 12 month low of $28.42 and a 12 month high of $79.43. The company has a current ratio of 4.39, a quick ratio of 2.08 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5,360.00, a P/E ratio of 10.15, a P/E/G ratio of 2.10 and a beta of 0.84.
Foot Locker (NYSE:FL) last released its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. Foot Locker had a return on equity of 19.96% and a net margin of 6.79%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter last year, the company earned $1.13 earnings per share. Foot Locker’s quarterly revenue was down .8% compared to the same quarter last year. equities analysts anticipate that Foot Locker will post 4.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, January 19th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, January 18th. Foot Locker’s payout ratio is 31.23%.
Hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC raised its stake in Foot Locker by 1,291.0% in the 2nd quarter. Janus Henderson Group PLC now owns 203,991 shares of the athletic footwear retailer’s stock valued at $10,053,000 after purchasing an additional 189,326 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Foot Locker by 10.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 971,685 shares of the athletic footwear retailer’s stock valued at $47,882,000 after purchasing an additional 91,716 shares during the last quarter. Tobam raised its stake in Foot Locker by 47.1% in the 2nd quarter. Tobam now owns 428,449 shares of the athletic footwear retailer’s stock valued at $21,114,000 after purchasing an additional 137,206 shares during the last quarter. Bridgewater Associates LP raised its stake in Foot Locker by 158.1% in the 2nd quarter. Bridgewater Associates LP now owns 228,939 shares of the athletic footwear retailer’s stock valued at $11,282,000 after purchasing an additional 140,253 shares during the last quarter. Finally, Sentry Investment Management LLC raised its stake in Foot Locker by 131.7% in the 2nd quarter. Sentry Investment Management LLC now owns 10,579 shares of the athletic footwear retailer’s stock valued at $521,000 after purchasing an additional 6,014 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.
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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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