Foot Locker Thinking of 'Plan B' As Sales Weaken

Foot Locker Inc. 200 Day Moving Average Chart

Foot Locker Inc. 200 Day Moving Average Chart

In general, more thrust is placed on most recent actions by assigning higher weights to it than those assigned to past movements.

Several other brokerages have also issued reports on FL.

David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now. and Foot Locker wasn't one of them! Brean Capital reiterated a "buy" rating and issued a $78.00 price objective (up previously from $77.00) on shares of Foot Locker in a research note on Wednesday, February 22nd.

COPYRIGHT VIOLATION NOTICE: "State Treasurer State of Michigan Cuts Position in Foot Locker, Inc". Finally, B. Riley reissued a "buy" rating and issued a $79.00 price target on shares of Foot Locker in a research note on Tuesday, February 21st. The stock now has an average rating of Buy and an average price target of $80.91. The $69.22 level represents at least another 1.75% downside for the stock from its current price. If you are reading this piece on another publication, it was illegally copied and republished in violation of U.S. and worldwide copyright & trademark law. Volume in the last session has increased compared with the stock's average trading volume. 7,118,240 shares of the company were exchanged. The market capitalization of the company is at $9.36 Billion. "The second line, the "%D" line is simple a 3-day moving average of the "%K" line.

Gross margins were down in the first quarter, which is also why Foot Locker's net earnings and earnings per share declined, but the decline rate hasn't been very high (and a small decline was forecasted by analysts, thus the 15% share price drop comes as a surprise) - earnings per share were $1.36 versus $1.39 in the previous year, a 2% decline yoy.

For the first quarter, the company reported earnings per share of $1.36, missing estimates of $1.38, and down from $1.39 in the same period one year ago.

The company said revenue for the quarter rose 2.1% to $7.26 billion.

Shares of Foot Locker (NYSE:FL) opened at 70.45 on Friday. This was up from $7.11 billion a year ago. The stock was down as much as 2.9% earlier at an intraday low of $18.35, which was the lowest price seen since August 20, 2013. Foot Locker's revenue for the quarter was up.7% compared to the same quarter past year. Todd Asset Management LLC boosted its position in shares of Foot Locker by 46.1% in the third quarter. Ltd. now owns 20,930 shares of the textile maker's stock valued at $1,417,000 after buying an additional 543 shares in the last quarter.

Foot Locker, Inc. shares were mostly flat in premarket trading Friday. The company's stock plunge Friday is on pace to be the biggest since the 2008 financial crisis. Nordea Investment Management AB increased its stake in Foot Locker by 2.9% in the third quarter.

On 4/20/2017 Paulette Alviti, SVP, sold 8,000 with an average share price of $74.50 per share and the total transaction amounting to $596,000.00.

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