Foot Locker (NYSE:FL) Stock Rating Lowered by Morgan Stanley

Morgan Stanley lowered shares of Foot Locker (NYSE:FL) from an equal weight rating to an underweight rating in a research note released on Thursday, Marketbeat reports. The firm currently has $18.00 price objective on the athletic footwear retailer’s stock, down from their previous price objective of $24.00.

Other equities analysts have also recently issued reports about the company. Citigroup raised Foot Locker from a sell rating to a neutral rating and lifted their price objective for the company from $19.00 to $24.00 in a report on Friday, March 22nd. Barclays boosted their price target on Foot Locker from $22.00 to $27.00 and gave the company an equal weight rating in a research note on Friday, May 31st. Evercore ISI upgraded shares of Foot Locker from an in-line rating to an outperform rating and increased their price objective for the stock from $28.00 to $32.00 in a research note on Monday, March 25th. Wedbush restated a neutral rating and issued a $25.00 target price on shares of Foot Locker in a research report on Wednesday, June 12th. Finally, Telsey Advisory Group reiterated a market perform rating and set a $26.00 price target on shares of Foot Locker in a research report on Thursday, May 30th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and an average target price of $24.44.

Foot Locker Stock Up 0.7 %

Shares of FL opened at $25.36 on Thursday. The firm has a market cap of $2.40 billion, a P/E ratio of -6.69, a price-to-earnings-growth ratio of 0.60 and a beta of 1.46. The firm’s 50-day simple moving average is $24.44 and its 200 day simple moving average is $25.98. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.50 and a current ratio of 1.68. Foot Locker has a 52 week low of $14.84 and a 52 week high of $35.60.

Foot Locker (NYSE:FL) last announced its earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the prior year, the business posted $0.70 EPS. The business’s revenue was down 2.8% compared to the same quarter last year. On average, analysts forecast that Foot Locker will post 1.52 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FL. Quadrant Capital Group LLC grew its holdings in shares of Foot Locker by 3,004.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after purchasing an additional 1,352 shares during the last quarter. CWM LLC boosted its position in Foot Locker by 26.7% during the 4th quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock worth $57,000 after buying an additional 387 shares during the period. Covestor Ltd grew its holdings in Foot Locker by 43,900.0% during the 1st quarter. Covestor Ltd now owns 2,200 shares of the athletic footwear retailer’s stock worth $63,000 after acquiring an additional 2,195 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Foot Locker in the 4th quarter valued at approximately $100,000. Finally, Sunbelt Securities Inc. bought a new position in shares of Foot Locker during the first quarter valued at $100,000.

About Foot Locker

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 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.