Published: Sat, August 19, 2017
Sci-tech | By Javier West

Deutsche Bank Downgrades Rating On Foot Locker, Inc. (FL)

Deutsche Bank Downgrades Rating On Foot Locker, Inc. (FL)

Foot Locker, Inc. (FL) is intriguing when broken down to its core data.

In the second quarter, Foot Locker had earnings of $51 million, or 39 cents a share, down from $127 million, or 94 cents a share, a year earlier. Analysts polled by StreetAccount expected an increase of 1 percent.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. The Atlanta Capital Group holds 19,935 shares with $1.41 million value, down from 28,785 last quarter. It has a dividend yield of 2.55%.

In the transaction dated March 02, 2017, the great number of shares disposed came courtesy the Director; Turpin Cheryl N disposed a total of 2,000 shares at an average price of $76.17, amounting to approximately $152,340. Equities analysts anticipate that Foot Locker will post $5.07 earnings per share for the current fiscal year. Foot Locker pays out 25.4% of its earnings in the form of a dividend. (NYSE:FL) has "Buy" rating given on Thursday, October 8 by Argus Research.

Equity analyst Oppenheimer released its first research report on the stock with a rating of "Perform". Deutsche Bank initiated the stock with "Buy" rating in Thursday, September 17 report. Out of 3 Wall Street analysts rating Colfax, 3 give it "Buy", 0 "Sell" rating, while 0 recommend "Hold".

Tilly's now has a consensus price target of $10.83, suggesting a potential upside of 11.91%.

In other news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the stock in a transaction that occurred on Wednesday, May 24th. To illustrate that point, shares of Foot Locker are now trading around 30 points below its 200-day moving average of $65.25 a share. The company's shares were given away at $74.5 per share worth to an income of some $596,000 on account of Alviti Paulette. FL stock's Schaeffer's put/call open interest ratio (SOIR) of 1.37 ranks in the 99th percentile of all other ratios from the past 12 months. (NYSE:FL). Principal Fincl Group Inc owns 255,740 shares for 0.02% of their portfolio. The hedge fund run by David Keidan held 283,589 shares of the consumer services company at the end of 2016Q4, valued at $20.10 million, down from 371,335 at the end of the previous reported quarter. Foot Locker also forecast continued sales declines over the rest of 2017, with Chief Executive Officer Dick Johnson citing sluggish demand for top brands, including Nike Inc.'s Jordan and Adidas AG's Stan Smith. YorkBridge Wealth Partners LLC increased its position in Foot Locker by 18.6% in the first quarter.

Sporting goods retailers are facing increasing competition from department stores and clothing chains, which are beefing up the number of sneakers and athletic wear they sell, said Neil Saunders, a retail analyst at GlobalData. The average numbers of shares are traded in a security per day, during the recent 3-month period. MCKENNA MATTHEW M had sold 5,000 shares worth $379,586. It also reduced Raytheon Co Com Us$0.01 (NYSE:RTN) stake by 35,217 shares and now owns 45,452 shares. The company has a market cap of $4.58 billion, a P/E ratio of 7.15 and a beta of 0.68. Extending back, their stock is trading -28.51% from the 50-Day Simple Moving Average, looking even further back, they are trading -46.73% off of the 200-Day Simple Moving Average.

Foot Locker (fl) CEO Richard Johnson seems to be living in a bit of denial. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and global copyright and trademark law.

Particularly worrisome for sports retailers and vendors is that Foot Locker's results showed weakness in the high-end sneaker category, which was high-flying until recently.

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