Foot Locker, Inc. (NYSE:FL) Given Consensus Recommendation of “Hold” by Analysts

Foot Locker, Inc. (NYSE:FL) has earned an average rating of “Hold” from the seventeen brokerages that are currently covering the firm, Marketbeat reports. Four investment 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 target price among brokerages that have issued ratings on the stock in the last year is $25.94.

A number of equities research analysts have commented on the stock. Telsey Advisory Group restated a “market perform” rating and issued a $27.00 price target on shares of Foot Locker in a report on Wednesday, August 28th. Morgan Stanley lowered Foot Locker from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $24.00 to $18.00 in a research report on Thursday, July 18th. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, September 20th. Evercore ISI raised their price objective on Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. Finally, Gordon Haskett began coverage on Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 target price on the stock.

Foot Locker Stock Performance

NYSE FL opened at $23.77 on Tuesday. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -6.27, a PEG ratio of 0.57 and a beta of 1.43. 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 twelve month low of $19.44 and a twelve month high of $35.60. The stock has a fifty day simple moving average of $27.99 and a 200 day simple moving average of $25.59.

Foot Locker (NYSE:FL) last announced its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.03. Foot Locker had a positive return on equity of 2.73% and a negative net margin of 4.48%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Sell-side analysts expect that Foot Locker will post 1.49 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.22, for a total value of $17,911,559.60. Following the sale, the insider now owns 10,393,592 shares in the company, valued at approximately $345,275,126.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders have sold 787,566 shares of company stock valued at $26,090,866. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

Hedge funds have recently made changes to their positions in the stock. Quarry LP bought a new stake in Foot Locker in the 2nd quarter worth approximately $31,000. Fifth Third Bancorp raised its stake in shares of Foot Locker by 116.0% during the second 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Foot Locker by 156.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer’s stock worth $40,000 after acquiring an additional 985 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Foot Locker in the 2nd quarter valued at $43,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Foot Locker during the 2nd quarter valued at $61,000.

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.