Foot Locker (FL) is Upgraded by Piper Jaffray to Overweight

Foot Locker (FL) was Upgraded by Piper Jaffray to ” Overweight”. Earlier the firm had a rating of “Neutral ” on the company shares. Piper Jaffray advised their investors in a research report released on Apr 13, 2016.

Many Wall Street Analysts have commented on Foot Locker. Foot Locker was Resumed by Credit Suisse to “Neutral” on Feb 5, 2016.

On the company’s financial health, Foot Locker reported $1.16 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Feb 26, 2016. Analyst had a consensus of $1.12. The company had revenue of $2007.00 million for the quarter, compared to analysts expectations of $2006.17 million. The company’s revenue was up 5.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.

Foot Locker closed down -2.45 points or -3.96% at $59.46 with 44,63,418 shares getting traded on Monday. Post opening the session at $61.5, the shares hit an intraday low of $59.45 and an intraday high of $61.79 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Apr 12, 2016, Matthew M Mckenna (director) sold 10,628 shares at $62.35 per share price. According to the SEC, on Apr 6, 2016, Giovanna Cipriano (SVP & Chief Accounting Officer) sold 22,000 shares at $62.21 per share price. On Mar 30, 2016, Jarobin Jr Gilbert (director) sold 5,000 shares at $65.77 per share price, according to the Form-4 filing with the securities and exchange commission.

Foot Locker Inc. is a retailer of shoes and apparel. The Company operates in two segments: Athletic Stores and Direct-to-Customers. The Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker Lady Foot Locker Kids Foot Locker Champs Sports Footaction and SIX:02 as well as the retail stores of Runners Point Group including Runners Point and Sidestep. The Direct-to-Customers segment includes Inc. and other affiliates including Eastbay Inc. and the direct-to-customer subsidiary of Runners Point Group which sell to customers through their Internet and mobile sites and catalogs. As of January 31 2015 the Company operated 3423 primarily mall-based stores in the United States Canada Europe Australia and New Zealand. As of January 31 2015 the Company operated a total of 78 franchised stores of which 31 are in the Middle East 27 in Germany and Switzerland and 20 in the Republic of Korea.

Foot Locker

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