SeaWorld Entertainment Inc (NYSE:SEAS) and Foot Locker, Inc. (NYSE:FL) are among the companies that are trading higher today. Why are the stocks soaring?
The shares of SeaWorld are trading at $20.47 per share while Foot Locker at $54.53 per share, up by more than 7% and 3%, respectively at the time of this writing, around 2:44 in the afternoon in New York.
For much of the past decade, Crispin Odey has been waiting for inflation to rear its ugly head. The fund manager has been positioned to take advantage of rising prices in his flagship hedge fund, the Odey European Fund, and has been trying to warn his investors about the risks of inflation through his annual Read More
SeaWorld stock rating upgrade by FBR Capital
The stock price of SeaWorls Entertainment Inc (NYSE:SEAS) went up driven by the positive recommendation of analysts from FBR Capital Markets. The analysts upgraded their rating for the stock from Market Perform to Outperform and raised their price target from $21 to $26 per share in a note to investors today.
Analysts at Credit Agricole recently initiated coverage on the shares of SeaWorld Entertainment Inc (NYSE:SEAS) with an Outperform rating and $23 price target. Credit Suisse analysts also initiated coverage on the stock with a similar stock rating and price target.
Last week, SeaWorld Entertainment Inc (NYSE:SEA) reported $0.43 in earnings per share on $405.20 million in revenue. The company’s financial results missed the $0.59 in earnings per share on %445.29 million in revenue consensus estimate of Wall Street analysts.
Over the past 52-week range, the stock price of SeaWorld Entertainment Inc (NYSE:SEAS) increased from $19.15 to $20.85 per share.
Foot Locker Jumps on outstanding financial results
The shares of Foot Locker, Inc. (NYSE:FL) are surging due to its outstanding financial performance for the second-quarter. The company posted $0.64 in earnings per share excluding some items, an increase of 39%. Its earnings beat the $0.54 per share consensus estimate of Wall Street analysts.
Foot Locker, Inc. (NYSE:FL) said its revenue increased 13 percent to $1.64 billion compared with the $1.57 billion estimated by analysts.
Kate McShane, an analyst at Citigroup Inc (NYSE:C) recommended a Buy rating for the shares of Foot Locker, Inc. (NYSE:FL). According to her, “Foot Locker’s excellent execution in both the U.S. and Europe benefits from ongoing store remodels and strong inventory management.”
Over the past 52-week range, the stock price of Foot Locker, Inc. (NYSE:FL) increased from $31.91 to $55.33 per share.