Analysts Set Foot Locker, Inc. (NYSE:FL) PT at $24.44

Foot Locker, Inc. (NYSE:FL) has been assigned an average recommendation of “Reduce” from the sixteen research firms that are presently covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $24.44.

Several equities research analysts have recently weighed in on the company. Wedbush reissued a “neutral” rating and set a $25.00 target price on shares of Foot Locker in a research report on Wednesday, June 12th. StockNews.com lowered Foot Locker from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Morgan Stanley downgraded Foot Locker from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $24.00 to $18.00 in a research note on Thursday, July 18th. Barclays lifted their target price on Foot Locker from $22.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, May 31st. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $26.00 price target on shares of Foot Locker in a research note on Thursday, May 30th.

Institutional Investors Weigh In On Foot Locker

Several institutional investors and hedge funds have recently modified their holdings of the stock. Foundry Partners LLC boosted its holdings in Foot Locker by 32.9% in the second quarter. Foundry Partners LLC now owns 11,420 shares of the athletic footwear retailer’s stock valued at $285,000 after purchasing an additional 2,829 shares during the last quarter. Arizona State Retirement System raised its stake in Foot Locker by 2.2% during the second quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock valued at $593,000 after buying an additional 518 shares in the last quarter. Rhumbline Advisers raised its stake in Foot Locker by 0.7% during the second quarter. Rhumbline Advisers now owns 268,910 shares of the athletic footwear retailer’s stock valued at $6,701,000 after buying an additional 1,756 shares in the last quarter. Natixis Advisors LLC raised its stake in Foot Locker by 7.0% during the second quarter. Natixis Advisors LLC now owns 11,813 shares of the athletic footwear retailer’s stock valued at $294,000 after buying an additional 775 shares in the last quarter. Finally, Innealta Capital LLC acquired a new stake in Foot Locker during the second quarter valued at approximately $91,000.

Foot Locker Stock Performance

Shares of Foot Locker stock opened at $26.77 on Thursday. The business has a 50-day moving average of $25.46 and a 200 day moving average of $25.85. Foot Locker has a 12 month low of $14.84 and a 12 month high of $35.60. The stock has a market capitalization of $2.54 billion, a price-to-earnings ratio of -7.06, a price-to-earnings-growth ratio of 0.64 and a beta of 1.46. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.68 and a quick ratio of 0.50.

Foot Locker (NYSE:FL) last announced its earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.10. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 4.41%. Foot Locker’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. As a group, sell-side analysts forecast that Foot Locker will post 1.52 earnings per share for the current year.

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.