Foot Locker, Inc. (NYSE:FL) Receives Average Recommendation of “Reduce” from Analysts

Shares of Foot Locker, Inc. (NYSE:FL) have been assigned an average rating of “Reduce” from the fifteen analysts that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $24.86.

Several research analysts have recently weighed in on FL shares. Morgan Stanley cut shares of 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. Wedbush restated a “neutral” rating and issued a $25.00 price objective on shares of Foot Locker in a report on Wednesday, June 12th. Piper Sandler reaffirmed a “neutral” rating and set a $30.00 target price on shares of Foot Locker in a report on Friday. Barclays boosted their price target on shares of Foot Locker from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $27.00 price target on shares of Foot Locker in a research note on Wednesday, August 21st.

Foot Locker Trading Down 0.8 %

NYSE:FL opened at $32.71 on Monday. Foot Locker has a 12 month low of $16.60 and a 12 month high of $35.60. The company has a current ratio of 1.68, a quick ratio of 0.50 and a debt-to-equity ratio of 0.15. The firm’s 50 day moving average is $27.07 and its 200 day moving average is $26.13. The stock has a market capitalization of $3.10 billion, a PE ratio of -8.63, a price-to-earnings-growth ratio of 0.79 and a beta of 1.46.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Thursday, May 30th. The athletic footwear retailer reported $0.22 EPS for the quarter, topping the consensus estimate of $0.12 by $0.10. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. Foot Locker’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the firm earned $0.70 EPS. Sell-side analysts expect that Foot Locker will post 1.53 earnings per share for the current year.

Insider Buying and Selling

In related news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $32.90, for a total transaction of $49,350.00. Following the sale, the insider now owns 11,402,353 shares of the company’s stock, valued at $375,137,413.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 Asset Management L.P. bought a new stake in shares of Foot Locker during the 2nd quarter valued at about $10,005,000. Quarry LP bought a new stake in Foot Locker during the second quarter valued at approximately $31,000. Northwestern Mutual Wealth Management Co. increased its holdings in Foot Locker by 156.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock valued at $40,000 after buying an additional 985 shares during the last quarter. Algert Global LLC raised its position in Foot Locker by 194.3% in the second quarter. Algert Global LLC now owns 111,049 shares of the athletic footwear retailer’s stock worth $2,767,000 after acquiring an additional 73,319 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Foot Locker by 5.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 45,936 shares of the athletic footwear retailer’s stock worth $1,145,000 after acquiring an additional 2,271 shares during the last quarter.

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.