Published: Sat, November 18, 2017
Economy | By Shawn Conner

Foot Locker Inc. Reports 28% Decline In Q3 Profit

Foot Locker Inc. Reports 28% Decline In Q3 Profit

Cubist Systematic Strategies LLC now owns 51,637 shares of the athletic footwear retailer's stock worth $1,819,000 after buying an additional 3,981 shares in the last quarter. Pool Corporation now has $4.78B valuation. About 43,735 shares traded.

Heading into the earnings release, covering analysts have a consensus target price of $39.89 on Foot Locker, Inc. shares. Out of 3 Wall Street analysts rating Interdigital Comm, 0 give it "Buy", 0 "Sell" rating, while 3 recommend "Hold". Foot Locker, Inc.'s beta is 0.66 whilst the stock has an average true range (ATR) of 1.15.

Foot Locker is part of Foot Locker, Inc. The firm has "Outperform" rating by Wells Fargo given on Thursday, November 19. Buckle profit disappointed. Foot Locker soared on upbeat earnings. (NYSE:FL) has "Hold" rating given on Friday, September 29 by Piper Jaffray. Foot Locker Inc. has $88 highest and $27 lowest target. On Friday, August 28 the stock rating was maintained by Deutsche Bank with "Buy".

Thirteen percent of UBS survey respondents indicated that they prefer to purchase Nike products on Amazon compared with the 9 percent who said they prefer to purchase the same products at Foot Locker.

Foot Locker, Inc. - FL - Stock Price Today - Zacks
Foot Locker shares surge the most in 40 years after earnings beat

Since May 24, 2017, it had 0 buys, and 1 insider sale for $332,640 activity. Shares for $332,640 were sold by GILBERT JAROBIN JR. As a result results using moving averages can be random at times the market appears to respect SMA support/resistance and trade signals, and other times it shows no deference. Foot Locker, Inc. (NYSE:FL) has risen 0.29% since November 16, 2016 and is uptrending.

Ross Stores, Inc (ROST) soared 8.9% or $5.84 to $71.53 after the off-price apparel and home fashion retailer reported net sales in the third-quarter ending on October 28 jumped 8% from a year ago to $3.3 billion. Zuccaro said the company's market position "remains solid" and it has the ability to weather near-term challenges. The company operates in two business segments, the Global Athletic Group and the Northern Group. It has a 7.2 P/E ratio. The Company 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. The Sneakeasy NYC pop-up will unlock the magic of the sneaker hunt by serving the sneaker-obsessed consumer by offering a curated and coveted assortment of NIKE and Jordan products and services, exclusively in partnership with Foot Locker. I think so. While FL stock won't bounce back to its 2017 highs of near $80, I do see another 40%-plus upside in this name to just under $60 over the next 12 months.

In terms of earnings per share, 22 analysts have a 1.32 EPS mean target for the quarter ending Jan-17, for the quarter ending Apr-18, 11 analysts have a 1.27 EPS mean target and for the quarter ending Apr-18 there are 22 estimates of 4.77 EPS.

Investors sentiment decreased to 0.87 in Q2 2017. Its down 0.17, from 1.04 in 2017Q1. To be sure, DSW wasn't alone in riding Foot Locker's coattails higher; shares of Finish Line climbed 7.4% today, Nike rose 3.4%, and Under Armour gained 2.4%. 64 funds opened positions while 162 raised stakes.

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Net income in the quarter surged 11.8% to $274 million or 72 cents per diluted share from $245 million or 62 cents in the same quarter previous year. Pennsylvania-based Orrstown Financial Serv has invested 0.06% in Foot Locker, Inc. Commonwealth Of Pennsylvania School Empls Retrmt holds 0.01% in Foot Locker, Inc.

Foot Locker shares have dropped 55 percent since the beginning of the year.

FORCE-FUL RESPONSE: Electronic Arts stock dropped after the video game company announced a last-minute change to "Star Wars Battlefront II" right before its launch. 23,927 were accumulated by Utah Retirement Systems. (NYSE:FL). Rothschild Investment Il has 0.14% invested in Foot Locker, Inc.

Eidelman Virant Capital holds 0.84% of its portfolio in Dover Motorsports, Inc. for 694,000 shares. Moreover, Pacad Invest Limited has 0.2% invested in Foot Locker, Inc. (NYSE:FL). Advantus Capital Mngmt owns 12,971 shares. Old Mutual Invsts (Uk) Ltd has 0.01% invested in Foot Locker, Inc. Great Lakes Advsrs Lc holds 45,824 shares or 0.06% of its portfolio. Its up 0.38, from 1.15 in 2017Q1.

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Dick's Sporting Goods this week said that earnings per share next year could fall as much as 20% as it invests in e-commerce, private brands and in other areas. Fin Architects reported 0% of its portfolio in Pool Corporation (NASDAQ:POOL). Stifel owns 25,309 shares.

Sell-side analysts have also provided a consensus recommendation of 2.60 on company shares.

Shares of DSW Inc. Morgan Stanley holds 85,857 shares. Fort L.P. owns 162,960 shares or 3.14% of their United States portfolio. The firm earned "Buy" rating on Monday, July 17 by Deutsche Bank. (NYSE:FL) has "Neutral" rating given on Monday, August 21 by Robert W. Baird. The company was downgraded on Friday, April 15 by Cowen & Co.

Turkey withdraws troops from North Atlantic Treaty Organisation drill in Norway
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