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

Shares of Foot Locker, Inc. (NYSE:FL) have received a consensus recommendation of “Hold” from the sixteen research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.53.

FL has been the topic of a number of recent analyst reports. Gordon Haskett started coverage on shares of Foot Locker in a report on Monday, October 7th. They issued an “accumulate” rating and a $27.00 price target on the stock. Evercore ISI lifted their target price on shares of Foot Locker from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, August 26th. Citigroup boosted their price target on Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Morgan Stanley downgraded shares of Foot Locker from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 target price on shares of Foot Locker in a report on Wednesday, August 28th.

Insider Buying and Selling at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the transaction, the insider now owns 11,146,292 shares of the company’s stock, valued at approximately $367,047,395.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 787,566 shares of company stock worth $26,090,866 over the last three months. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Foot Locker

Large investors have recently bought and sold shares of the business. Quarry LP purchased a new position in shares of Foot Locker during the second quarter worth approximately $31,000. Fifth Third Bancorp grew its position in Foot Locker by 116.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after purchasing an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Foot Locker by 156.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after purchasing an additional 985 shares during the last quarter. Headlands Technologies LLC acquired a new position in Foot Locker in the second quarter valued at $43,000. Finally, nVerses Capital LLC purchased a new stake in shares of Foot Locker in the third quarter valued at about $47,000.

Foot Locker Trading Down 0.6 %

FL opened at $24.69 on Friday. Foot Locker has a 52 week low of $19.44 and a 52 week high of $35.60. The company has a market capitalization of $2.34 billion, a P/E ratio of -6.38, a PEG ratio of 0.60 and a beta of 1.44. The stock’s fifty day moving average is $25.22 and its two-hundred day moving average is $25.63. 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 (NYSE:FL) last posted its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The business had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Analysts forecast that Foot Locker will post 1.49 earnings per share for the current 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.