Foot Locker, Inc. (NYSE:FL) Receives $24.94 Average PT from Analysts

Shares of Foot Locker, Inc. (NYSE:FL) have been given a consensus recommendation of “Hold” by the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.94.

A number of brokerages recently issued reports on FL. Jefferies Financial Group lowered their price target on Foot Locker from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Bank of America dropped their price target on shares of Foot Locker from $31.00 to $27.00 and set a “neutral” rating for the company in a research note on Thursday, March 7th. Guggenheim reduced their price objective on shares of Foot Locker from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $28.00 price objective (down previously from $38.00) on shares of Foot Locker in a research note on Thursday, March 7th. Finally, Evercore ISI raised Foot Locker from an “in-line” rating to an “outperform” rating and upped their target price for the company from $28.00 to $32.00 in a research note on Monday, March 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. New Mexico Educational Retirement Board purchased a new stake in shares of Foot Locker during the 1st quarter worth $549,000. Sunbelt Securities Inc. bought a new position in Foot Locker in the first quarter worth about $100,000. Bridgeway Capital Management LLC raised its holdings in Foot Locker by 16.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 529,806 shares of the athletic footwear retailer’s stock worth $16,503,000 after purchasing an additional 74,214 shares in the last quarter. Bayesian Capital Management LP purchased a new stake in shares of Foot Locker during the fourth quarter valued at about $4,115,000. Finally, Comerica Bank boosted its holdings in shares of Foot Locker by 1.5% in the 4th quarter. Comerica Bank now owns 41,010 shares of the athletic footwear retailer’s stock valued at $1,277,000 after buying an additional 610 shares in the last quarter.

Foot Locker Stock Performance

Shares of NYSE:FL opened at $21.92 on Tuesday. The firm has a fifty day simple moving average of $26.45 and a two-hundred day simple moving average of $26.33. Foot Locker has a 52 week low of $14.84 and a 52 week high of $42.79. The company has a quick ratio of 0.55, a current ratio of 1.72 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.07 billion, a P/E ratio of -6.26, a PEG ratio of 0.53 and a beta of 1.43.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, topping the consensus estimate of $0.34 by $0.04. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Foot Locker will post 1.56 earnings per share for the current fiscal year.

Foot Locker Company Profile

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.