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18 November 2017, 12:20 | Cedric Leonard
Foot Locker shares surge the most in 40 years after earnings beat
The firm presently has a "hold" rating on the athletic footwear retailer's stock. The company now has a consensus rating of Hold and a consensus target price of $57.67. (NASDAQ:FL), 4 rate it "Buy", 3 "Outperform", 12 "Underperform", 2 "Sell", while 0 "Hold". Zacks Investment Research raised Foot Locker from a "sell" rating to a "hold" rating in a research note on Monday, October 23rd. Foot Locker has recorded a 50-day average of $34.28 and a two hundred day average of $51.08. BidaskClub downgraded Foot Locker from a "sell" rating to a "strong sell" rating in a report on Tuesday, July 25th. 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. Out of 3 Wall Street analysts rating Interdigital Comm, 0 give it "Buy", 0 "Sell" rating, while 3 recommend "Hold". Foot Locker has an average rating of "Hold" and an average target price of $58.80. If shares close at those levels, it will be the company's single best trading day since 1977. The firm has a market cap of $4,900.00, a PE ratio of 6.96, a price-to-earnings-growth ratio of 2.17 and a beta of 0.66. Foot Locker, Inc. (NYSE:FL) has risen 0.29% since November 17, 2016 and is uptrending. The company has a current ratio of 5.63, a quick ratio of 2.88 and a debt-to-equity ratio of 0.04.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.28). Its revenue totaled $1.8 billion down -10.02% from the previous quarter. Foot Locker Inc. had 103 analyst reports since July 21, 2015 according to SRatingsIntel.
Foot Locker, Inc. (NYSE:FL) touched its 1-Year High price of $79.43 on 12/08/16 and its 1-Year Low price of $28.42 on 11/08/17. Analysts forecast earnings per share of $0.80, down exactly $0.33 or 29.20 % from 2014's $1.13 EPS.
To turn things around, Foot Locker has invested in its digital offering, closed under-performing stores, and created new ways to collaborate with its biggest partner, Nike, including having experts on site at some locations to discuss Nike products.
In addition to Canaccord reporting its stock price target, a total of 23 brokerages have issued a ratings update on the company. If you are viewing this story on another site, it was copied illegally and reposted in violation of US and global trademark & copyright laws.
Several hedge funds have recently modified their holdings of the stock. Penserra Capital Management LLC lifted its stake in Foot Locker by 13.0% during the second quarter. The Sei Investments Company holds 76,368 shares with $8.98M value, up from 54,301 last quarter. Koch Industries Inc. purchased a new stake in Foot Locker in the second quarter valued at $720,000. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Foot Locker, Inc. with MarketBeat.com's FREE daily email newsletter. Ffcm LLC now owns 4,072 shares of the athletic footwear retailer's stock valued at $201,000 after purchasing an additional 348 shares during the last quarter.
It is common practice for investors to use the price-to-earnings ratio (P/E ratio or price multiple) to determine if a company's stock price is over or undervalued.
Foot Locker's quarter was a classic example of analysts and investors growing too sour on the name.
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