Foot Locker (FL) is Downgraded by Piper Jaffray to Neutral

Foot Locker (FL) was Downgraded by Piper Jaffray to ” Neutral”. Earlier the firm had a rating of “Overweight ” on the company shares. Piper Jaffray advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on Foot Locker. Foot Locker was Downgraded by Piper Jaffray to ” Neutral” on Nov 21, 2016. Wedbush Initiated Foot Locker on Nov 2, 2016 to “Outperform”, Price Target of the shares are set at $80.Foot Locker was Initiated by Guggenheim to “Neutral” on Sep 30, 2016.

On the company’s financial health, Foot Locker reported $1.13 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Nov 18, 2016. Analyst had a consensus of $1.10. The company had revenue of $1886.00 million for the quarter, compared to analysts expectations of $1889.16 million. The company’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS.

Foot Locker opened for trading at $69.57 and hit $72.6 on the upside on Monday, eventually ending the session at $71.78, with a gain of 0.60% or 0.43 points. The heightened volatility saw the trading volume jump to 54,05,723 shares. Company has a market cap of $9,565 M.

Investors should note that on Nov 16, 2016, Foot Locker announced a cash dividend of $0.2750. The company’s management has announced Jan 11, 2017 as the ex-dividend date and fixed the record date on Jan 13, 2017. The payable date has been fixed on Jan 27, 2017.

In a different news, on Oct 14, 2016, Nicholas P Dipaolo (director) sold 5,424 shares at $68.75 per share price. According to the SEC, on Oct 13, 2016, Cheryl N Turpin (director) sold 10,000 shares at $69.16 per share price. On Sep 8, 2016, Lewis Phillip Kimble (EVP & CEO International) sold 43,479 shares at $65.42 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.

Foot Locker

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