Foot Locker, Inc. (NYSE:FL) Receives $26.53 Average Target Price from Brokerages

Shares of Foot Locker, Inc. (NYSE:FL) have been given an average rating of “Hold” by the sixteen brokerages that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $26.53.

Several research firms have commented on FL. Citigroup boosted their price target on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a report on Tuesday, August 20th. Morgan Stanley downgraded Foot Locker from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $24.00 to $18.00 in a report on Thursday, July 18th. Robert W. Baird dropped their price objective on Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.00 price target on shares of Foot Locker in a report on Wednesday, August 28th. Finally, Evercore ISI raised their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, August 26th.

Foot Locker Price Performance

Foot Locker stock opened at $24.88 on Friday. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. Foot Locker has a 52-week low of $19.84 and a 52-week high of $35.60. The firm has a market cap of $2.36 billion, a PE ratio of -6.43, a price-to-earnings-growth ratio of 0.61 and a beta of 1.44. The company’s 50 day moving average is $25.10 and its two-hundred day moving average is $25.69.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.03. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. On average, research analysts expect that Foot Locker will post 1.49 EPS for the current fiscal year.

Insider Transactions at Foot Locker

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the completion of the transaction, the insider now owns 11,146,292 shares in the company, valued at approximately $367,047,395.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 787,566 shares of company stock worth $26,090,866 over the last 90 days. 1.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of FL. Patriot Financial Group Insurance Agency LLC grew its holdings in shares of Foot Locker by 3.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock worth $355,000 after acquiring an additional 431 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Foot Locker by 1.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock worth $1,035,000 after purchasing an additional 483 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Foot Locker by 2.2% during the second quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock worth $593,000 after buying an additional 518 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Foot Locker by 2.5% in the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock valued at $690,000 after buying an additional 667 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in Foot Locker by 116.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after acquiring an additional 733 shares during the period.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.