Foot Locker (FL) Upgraded at OTR Global

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

Several other research firms have also commented on FL. Cowen set a $40.00 target price on Foot Locker and gave the stock a “hold” rating in a report on Saturday, November 18th. Zacks Investment Research raised Foot Locker from a “sell” rating to a “hold” rating in a report on Monday, October 23rd. Deutsche Bank raised Foot Locker from a “hold” rating to a “buy” rating and raised their target price for the stock from $38.00 to $45.00 in a report on Friday, November 17th. Wells Fargo & Co set a $42.00 target price on Foot Locker and gave the stock a “hold” rating in a report on Monday, November 20th. Finally, Wedbush reissued an “outperform” rating on shares of Foot Locker in a report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $56.15.

Shares of Foot Locker (NYSE:FL) opened at $46.24 on Friday. The company has a market capitalization of $5,604.52, a PE ratio of 11.62, a P/E/G ratio of 2.15 and a beta of 0.80. Foot Locker has a 1-year low of $28.42 and a 1-year high of $77.86. The company has a current ratio of 4.41, a quick ratio of 2.09 and a debt-to-equity ratio of 0.05.

Foot Locker (NYSE:FL) last posted its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The firm had revenue of $1.87 billion for 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 revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the company earned $1.13 earnings per share. analysts predict that Foot Locker will post 4.1 EPS for the current year.

In other news, SVP Giovanna Cipriano sold 21,000 shares of the firm’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $50.05, for a total value of $1,051,050.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew M. Mckenna sold 10,899 shares of the firm’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $45.82, for a total value of $499,392.18. Following the completion of the transaction, the director now owns 35,000 shares in the company, valued at approximately $1,603,700. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,899 shares of company stock worth $2,801,692. Company insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of Foot Locker by 9.6% in the fourth quarter. Bank of New York Mellon Corp now owns 3,935,081 shares of the athletic footwear retailer’s stock valued at $184,475,000 after acquiring an additional 343,488 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of Foot Locker by 11.2% in the third quarter. APG Asset Management N.V. now owns 2,776,631 shares of the athletic footwear retailer’s stock valued at $97,793,000 after acquiring an additional 279,200 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Foot Locker by 36.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,329,354 shares of the athletic footwear retailer’s stock valued at $46,817,000 after acquiring an additional 357,669 shares in the last quarter. Rockefeller Financial Services Inc. purchased a new position in shares of Foot Locker in the third quarter valued at approximately $42,618,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Foot Locker by 7,025.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,132,990 shares of the athletic footwear retailer’s stock valued at $53,115,000 after acquiring an additional 1,117,090 shares in the last quarter. Institutional investors and hedge funds own 89.01% of the company’s stock.

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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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