Foot Locker (NYSE:FL) Given “Market Perform” Rating at Telsey Advisory Group

Telsey Advisory Group reiterated their market perform rating on shares of Foot Locker (NYSE:FL) in a report issued on Wednesday, Benzinga reports. They currently have a $27.00 target price on the athletic footwear retailer’s stock.

Several other brokerages also recently issued reports on FL. Citigroup raised their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the stock a neutral rating in a research report on Tuesday, August 20th. Piper Sandler restated a neutral rating and issued a $30.00 price target on shares of Foot Locker in a research report on Friday, August 23rd. StockNews.com cut Foot Locker from a hold rating to a sell rating in a research report on Wednesday, June 19th. Morgan Stanley lowered Foot Locker from an equal weight rating to an underweight rating and dropped their target price for the company from $24.00 to $18.00 in a report on Thursday, July 18th. Finally, Wedbush reaffirmed a neutral rating and set a $25.00 price target on shares of Foot Locker in a report on Wednesday, June 12th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $25.93.

Foot Locker Stock Down 10.2 %

FL opened at $29.45 on Wednesday. Foot Locker has a one year low of $16.68 and a one year high of $35.60. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.50 and a current ratio of 1.68. The stock has a market capitalization of $2.79 billion, a P/E ratio of -7.77, a price-to-earnings-growth ratio of 0.80 and a beta of 1.46. The business’s 50-day simple moving average is $27.48 and its 200-day simple moving average is $26.18.

Foot Locker (NYSE:FL) last released its quarterly earnings results 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 for the quarter, compared to analyst estimates of $1.88 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 earnings per share. Analysts anticipate that Foot Locker will post 1.51 EPS for the current year.

Insider Transactions at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the firm’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 value of $8,129,955.98. Following the completion of the transaction, the insider now directly owns 11,146,292 shares of the company’s stock, valued at approximately $367,047,395.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 787,566 shares of company stock valued at $26,090,866 in the last quarter. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Foot Locker

A number of large investors have recently added to or reduced their stakes in FL. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Foot Locker by 326.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock valued at $26,256,000 after purchasing an additional 705,237 shares in the last quarter. Norges Bank purchased a new stake in Foot Locker in the 4th quarter valued at approximately $21,238,000. Allspring Global Investments Holdings LLC grew its holdings in Foot Locker by 23.8% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock valued at $72,279,000 after buying an additional 557,489 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Foot Locker during the second quarter worth $10,005,000. Finally, Invenomic Capital Management LP raised its holdings in shares of Foot Locker by 54.3% in the first quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock worth $21,441,000 after acquiring an additional 264,598 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.