Piper Jaffray Upgrades Foot Locker to Overweight

Brokerage firm Piper Jaffray Upgrades its rating on Foot Locker(NYSE:FL). The shares have been rated Overweight. Previously, the analysts had a Neutral rating on the shares. The rating by Piper Jaffray was issued on Apr 12, 2016.

In a different note, On Mar 18, 2016, Goldman Sachs said it Maintains its rating on Foot Locker. In the research note, the firm Lowers the price-target to $59.00 per share. The shares have been rated ‘Sell’ by the firm. On Feb 29, 2016, Brean Capital said it Maintains its rating on Foot Locker. In the research note, the firm Raises the price-target to $77.00 per share. The shares have been rated ‘Buy’ by the firm. On Feb 24, 2016, B. Riley said it Maintains its rating on Foot Locker. In the research note, the firm Raises the price-target to $66.00 per share. The shares have been rated ‘Neutral’ by the firm. On Feb 5, 2016, Credit Suisse said it Assumes its rating on Foot Locker. The shares have been rated ‘Neutral’ by the firm.

Foot Locker (FL) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.03% at a volume of 42,61,714. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $61.5. The peak price level was also seen at $61.5 while the days lowest was $59.71. Finally the shares closed at $61.4. The 52-week high of the shares is $77.25 while the 52-week low is $57.23. According to the latest information available, the market cap of the company is $8,356 M.

Foot Locker(FL) last announced its earnings results on Feb 26, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $2.01B. Analysts had an estimated revenue of $2.00B. Earnings per share were $1.16. Analysts had estimated an EPS of $1.12.

Several Insider Transactions has been reported to the SEC. On Apr 6, 2016, Giovanna Cipriano (SVP & Chief Accounting Officer) sold 22,000 shares at $62.21 per share price.Also, On Mar 30, 2016, Jarobin Jr Gilbert (director) sold 5,000 shares at $65.77 per share price.On Mar 21, 2016, Robert W Mchugh (EVP – Operations Support) sold 40,000 shares at $65.00 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 Footlocker.com 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.

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