Foot Locker (FL) Upgraded by Canaccord Genuity to Buy

Foot Locker (NYSE:FL) was upgraded by equities research analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research report issued on Friday, MarketBeat.com reports. The firm currently has a $64.00 price target on the athletic footwear retailer’s stock, up from their previous price target of $42.00. Canaccord Genuity’s price objective points to a potential upside of 44.37% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 target price (down from $65.00) on shares of Foot Locker in a research note on Tuesday, August 29th. Zacks Investment Research upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a research report on Monday, October 23rd. Cowen set a $37.00 price target on shares of Foot Locker and gave the stock a “hold” rating in a research report on Monday, October 23rd. Robert W. Baird reiterated a “hold” rating and set a $37.00 price target on shares of Foot Locker in a research report on Sunday, October 29th. Finally, Deutsche Bank upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and lifted their price target for the stock from $38.00 to $45.00 in a research report on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $52.01.

Shares of Foot Locker (NYSE:FL) traded down $1.02 during midday trading on Friday, hitting $44.33. 4,004,600 shares of the company’s stock were exchanged, compared to its average volume of 3,588,593. Foot Locker has a one year low of $28.42 and a one year high of $77.86. The company has a market capitalization of $5,623.29, a P/E ratio of 10.75, a PEG ratio of 2.22 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.09 and a current ratio of 4.41.

Foot Locker (NYSE:FL) last announced its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The company’s revenue was down .8% on a year-over-year basis. research analysts expect that Foot Locker will post 4.08 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. D.A. Davidson & CO. grew its holdings in Foot Locker by 50.3% during the second quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock valued at $105,000 after purchasing an additional 714 shares during the period. Penserra Capital Management LLC boosted its holdings in shares of Foot Locker by 13.0% in the second quarter. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer’s stock valued at $148,000 after buying an additional 348 shares during the period. Smithfield Trust Co. boosted its holdings in shares of Foot Locker by 276.2% in the third quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock valued at $113,000 after buying an additional 2,348 shares during the period. Assetmark Inc. boosted its holdings in shares of Foot Locker by 205.0% in the third quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock valued at $135,000 after buying an additional 2,577 shares during the period. Finally, Pacer Advisors Inc. boosted its holdings in shares of Foot Locker by 49.6% in the second quarter. Pacer Advisors Inc. now owns 3,935 shares of the athletic footwear retailer’s stock valued at $194,000 after buying an additional 1,305 shares during the period. Hedge funds and other institutional investors own 88.08% 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.

Analyst Recommendations for Foot Locker (NYSE:FL)

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