Has The Rebound Started In Foot Locker, Inc.?

Retailers rise again but tech leads other US stocks lower- Vincent Napolitano

They now have a market perform rating on the athletic footwear retailer's stock. Canaccord Genuity's price objective would suggest a potential upside of 15.38% from the company's current price. (NYSE:FL) has "Buy" rating given on Monday, August 24 by UBS. Zacks Investment Research raised Foot Locker from a "sell" rating to a "hold" rating in a research note on Monday, October 23rd. It is negative, as 100 investors sold Foot Locker, Inc. shares while 161 reduced holdings. Finally, Credit Suisse Group reaffirmed a neutral rating and issued a $52.00 target price (down from $66.00) on shares of Foot Locker in a report on Tuesday, August 1st. Two equities research 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.

The company's stock is now moving with a -ve distance from the 200 day SMA of approximately -42.32%, and has a solid year to date (YTD) performance of -55.99% which means that the stock is constantly adding to its value from the previous fiscal year end price. Foot Locker was the most actively traded among stocks listed on the New York Stock Exchange. The stock had a trading volume of 4,970,800 shares, compared to its average volume of 3,295,162. Foot Locker has a fifty-two week low of $28.42 and a fifty-two week high of $79.43. The company has a current ratio of 5.63, a quick ratio of 2.88 and a debt-to-equity ratio of 0.04. (NASDAQ:FL) to report earnings on Nov, 17 for the fiscal quarter ending Oct 2017. Stockholders of record on Friday, January 19th will be issued a dividend of $0.31 per share.

The company said revenue for the quarter fell 1.1% to $1.87 billion. Foot Locker Inc. had 103 analyst reports since July 21, 2015 according to SRatingsIntel.

"Despite the highly promotional environment we still see in the marketplace, the availability of premium product is gradually improving compared to the first half of the year, and we believe we can achieve, and perhaps modestly exceed, the top- and bottom-line guidance we gave for the fourth quarter back in August", said CEO and Chairman Richard Johnson. The NYSE-listed company saw a recent bid of $42.21 on volume of 4.73 million shares.

The biggest institutional shareholders in Foot Locker, Inc. include Vanguard Group Inc which owns 13 million shares in the company valued at $649.89 million.

The stock increased or $0 during the last trading session, hitting $. If you are accessing this news story on another website, it was stolen and reposted in violation of USA & global trademark and copyright legislation.

Foot Locker, Inc. (NYSE:FL) received a Buy rating from 1 analysts. Koch Industries Inc. purchased a new stake in Foot Locker in the second quarter valued at $720,000. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer's stock valued at $148,000 after purchasing an additional 348 shares during the last quarter. Trading volume for Foot Locker, Inc. was 4.89 Million in its previous trading session. Finally, Canada Pension Plan Investment Board boosted its holdings in Foot Locker by 65.3% in the second quarter. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.28). American Int Grp Inc Inc owns 84,634 shares.

As CNBC reports, "Fears that e-commerce giant Amazon.com may seek to expand into apparel have made it a tough year for Foot Locker shares". There is a seismic shift in athletic retail right now from wholesale to direct (companies like Nike selling through their own channels, including their own stores).



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