Brokerages Set Foot Locker, Inc. (NYSE:FL) PT at $26.53

Foot Locker, Inc. (NYSE:FL) has been assigned a consensus rating of “Hold” from the sixteen analysts that are covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $26.53.

A number of equities analysts have recently issued reports on FL shares. Evercore ISI increased their price objective on shares of Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. Gordon Haskett began coverage on shares of Foot Locker in a research report on Monday, October 7th. They set an “accumulate” rating and a $27.00 target price for the company. Morgan Stanley lowered shares of Foot Locker from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $24.00 to $18.00 in a report on Thursday, July 18th. Piper Sandler reissued a “neutral” rating and issued a $30.00 price objective on shares of Foot Locker in a research report on Friday, August 23rd. Finally, Telsey Advisory Group reaffirmed a “market perform” rating and set a $27.00 target price on shares of Foot Locker in a research report on Wednesday, August 28th.

Foot Locker Price Performance

NYSE:FL opened at $24.88 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of -6.43, a P/E/G ratio of 0.61 and a beta of 1.44. The business’s 50-day moving average is $25.10 and its 200 day moving average is $25.69. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. Foot Locker has a 12 month low of $19.84 and a 12 month high of $35.60.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share 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 company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.88 billion. On average, equities research analysts forecast that Foot Locker will post 1.49 earnings per share for the current fiscal year.

Insider Activity at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 11,146,292 shares in the company, valued at approximately $367,047,395.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Foot Locker

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in shares of Foot Locker in the 2nd quarter valued at $31,000. Fifth Third Bancorp lifted its position in Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock valued at $34,000 after buying an additional 733 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake 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 worth $40,000 after buying an additional 985 shares during the period. Headlands Technologies LLC purchased a new position in Foot Locker during the second quarter worth about $43,000. Finally, nVerses Capital LLC acquired a new stake in shares of Foot Locker during the third quarter valued at about $47,000.

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.