Foot Locker, Inc. (FL) Cut to “Neutral” at Buckingham Research

Foot Locker, Inc. (NYSE:FL) was downgraded by research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a report issued on Monday, MarketBeat Ratings reports. The analysts noted that the move was a valuation call.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $70.00 to $65.00 in a research note on Tuesday, August 8th. Canaccord Genuity cut Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. TheStreet cut Foot Locker from a “b-” rating to a “c+” rating in a research note on Friday, June 30th. FBR & Co restated a “hold” rating on shares of Foot Locker in a research note on Monday, August 21st. Finally, J P Morgan Chase & Co cut Foot Locker from an “overweight” rating to a “neutral” rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.88.

Foot Locker (FL) traded up 1.09% during trading on Monday, hitting $31.62. The company had a trading volume of 3,600,993 shares. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 7.31 and a beta of 0.72. The stock has a 50-day moving average of $34.15 and a 200 day moving average of $50.48. Foot Locker has a one year low of $30.40 and a one year high of $79.43.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.28). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. Equities analysts forecast that Foot Locker will post $3.97 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Foot Locker, Inc. (FL) Cut to “Neutral” at Buckingham Research” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://ledgergazette.com/2017/10/23/buckingham-research-lowers-foot-locker-inc-fl-to-neutral.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its holdings in Foot Locker by 32.4% in the third quarter. Nationwide Fund Advisors now owns 50,182 shares of the athletic footwear retailer’s stock valued at $1,767,000 after purchasing an additional 12,285 shares during the period. Fox Run Management L.L.C. increased its holdings in Foot Locker by 105.4% in the third quarter. Fox Run Management L.L.C. now owns 19,100 shares of the athletic footwear retailer’s stock valued at $673,000 after purchasing an additional 9,800 shares during the period. Strs Ohio grew its holdings in Foot Locker by 7.9% during the 3rd quarter. Strs Ohio now owns 24,920 shares of the athletic footwear retailer’s stock worth $877,000 after acquiring an additional 1,835 shares during the period. APG Asset Management N.V. grew its holdings in Foot Locker by 11.2% during the 3rd quarter. APG Asset Management N.V. now owns 2,776,631 shares of the athletic footwear retailer’s stock worth $97,793,000 after acquiring an additional 279,200 shares during the period. Finally, Foster & Motley Inc. grew its

Other equities research analysts have also recently issued reports about the company. Morgan Stanley upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $70.00 to $65.00 in a research note on Tuesday, August 8th. Canaccord Genuity cut Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. TheStreet cut Foot Locker from a “b-” rating to a “c+” rating in a research note on Friday, June 30th. FBR & Co restated a “hold” rating on shares of Foot Locker in a research note on Monday, August 21st. Finally, J P Morgan Chase & Co cut Foot Locker from an “overweight” rating to a “neutral” rating in a research note on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $62.88.

Foot Locker (FL) traded up 1.09% during trading on Monday, hitting $31.62. The company had a trading volume of 3,600,993 shares. The company has a market capitalization of $3.92 billion, a price-to-earnings ratio of 7.31 and a beta of 0.72. The stock has a 50-day moving average of $34.15 and a 200 day moving average of $50.48. Foot Locker has a one year low of $30.40 and a one year high of $79.43.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.28). The company had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.94 earnings per share. Equities analysts forecast that Foot Locker will post $3.97 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Foot Locker, Inc. (FL) Cut to “Neutral” at Buckingham Research” was reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://ledgergazette.com/2017/10/23/buckingham-research-lowers-foot-locker-inc-fl-to-neutral.html.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Nationwide Fund Advisors increased its holdings in Foot Locker by 32.4% in the third quarter. Nationwide Fund Advisors now owns 50,182 shares of the athletic footwear retailer’s stock valued at $1,767,000 after purchasing an additional 12,285 shares during the period. Fox Run Management L.L.C. increased its holdings in Foot Locker by 105.4% in the third quarter. Fox Run Management L.L.C. now owns 19,100 shares of the athletic footwear retailer’s stock valued at $673,000 after purchasing an additional 9,800 shares during the period. Strs Ohio grew its holdings in Foot Locker by 7.9% during the 3rd quarter. Strs Ohio now owns 24,920 shares of the athletic footwear retailer’s stock worth $877,000 after acquiring an additional 1,835 shares during the period. APG Asset Management N.V. grew its holdings in Foot Locker by 11.2% during the 3rd quarter. APG Asset Management N.V. now owns 2,776,631 shares of the athletic footwear retailer’s stock worth $97,793,000 after acquiring an additional 279,200 shares during the period. Finally, Foster & Motley Inc. grew its holdings in Foot Locker by 37.0% during the 3rd quarter. Foster & Motley Inc. now owns 23,086 shares of the athletic footwear retailer’s stock worth $813,000 after acquiring an additional 6,230 shares during the period. Institutional investors and hedge funds own 96.57% of the company’s stock.

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.

Analyst Recommendations for Foot Locker (NYSE:FL)

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