Foot Locker shares surge the most in 40 years after earnings beat

Foot Locker shares surge the most in 40 years after earnings beat

Canaccord Genuity's price objective would suggest a potential upside of 15.38% from the company's current price. (NASDAQ:FL), 4 rate it "Buy", 3 "Outperform", 12 "Underperform", 2 "Sell", while 0 "Hold". Morgan Stanley reissued an "overweight" rating and issued a $50.00 price objective (down from $65.00) on shares of Foot Locker in a research note on Tuesday, August 29th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Foot Locker in a report on Tuesday, August 15th. Out of 3 Wall Street analysts rating Interdigital Comm, 0 give it "Buy", 0 "Sell" rating, while 3 recommend "Hold".

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.

Shares of Foot Locker (NYSE:FL) traded up $1.20 during trading on Wednesday, hitting $31.20. In terms of recent volatility, the average for the month is 3.98% and 5.34% for the past week. Foot Locker, Inc. has a 52 week low of $28.42 and a 52 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. (NYSE: FL) has became attention seeker from the inquisitor when it experienced a change of 3.90% Whereas, in last 21 trading days was -3.07% and moved up in last 63 trading days of -38.23%. Stockholders of record on Friday, January 19th will be given a dividend of 0.31 per share by the athletic footwear retailer on Friday, February 2nd. Comparable sales estimates for the quarter had fallen all the way to a decline of almost 5% (they were up in the high single-digit range in March and April). Foot Locker said it incurred $7 million of hurricane-related costs, the majority of which related to damaged or lost inventory. (NYSE:FL) to report earnings on November, 17 before the open. If you are viewing this piece on another website, it was stolen and reposted in violation of U.S. and global copyright legislation.

At the moment 21 analysts are watching Foot Locker, Inc.

Facebook brings the fight to YouTube once again with new Creator app
The Creator app comes after Facebook's recent introduction of Watch - a dedicated tab where users can watch original videos. The company is also launching a website called Facebook for Creators , which will coach users on refining their videos.

Several hedge funds have recently modified their holdings of the stock.

Permit Capital Llc holds 3.78% of its portfolio in InterDigital, Inc. for 83,116 shares. Both quarters had the same lap (a 4.7% rise), so comparable sales trends are improving on both a 1- and 2-year basis. Highlander Capital Management LLC purchased a new stake in shares of Foot Locker in the third quarter worth $352,000. Finally, Exane Derivatives lifted its stake in Foot Locker by 110,475.0% during the third quarter. "We are adjusting our course proactively, including creating new initiatives with key vendors and making critical investments in our digital platforms and supply chain, to ensure that Foot Locker will continue to thrive at the center of sneaker culture and, more broadly, youth culture". The athletic footwear retailer reported $0.62 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.28). The firm owned 9,065,383 shares of the company's stock after buying an additional 155,950 shares during the period.

Foot Locker and other sporting goods retailers have been plauged with sluggish sales, which they have credited partially to a lack of new styles in the athletic shoe market. The Firm operates through two divisions: Athletic Stores and Direct-to-Customers. The Firm 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.

Related Articles