Foot Locker, Inc. (NYSE:FL) Receives $22.81 Average Price Target from Brokerages

Shares of Foot Locker, Inc. (NYSE:FL - Get Free Report) have earned a consensus rating of "Hold" from the sixteen ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $21.94.

A number of brokerages have commented on FL. Jefferies Financial Group cut their price target on shares of Foot Locker from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Robert W. Baird cut their target price on Foot Locker from $24.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Telsey Advisory Group reiterated a "market perform" rating and issued a $24.00 target price on shares of Foot Locker in a report on Wednesday, March 5th. Needham & Company LLC restated a "buy" rating and set a $24.00 price target on shares of Foot Locker in a report on Wednesday, March 5th. Finally, Piper Sandler reduced their price objective on shares of Foot Locker from $19.00 to $12.00 and set a "neutral" rating for the company in a research report on Friday.

Foot Locker Trading Down 4.6 %

Shares of FL traded down $0.58 during mid-day trading on Tuesday, reaching $11.81. 5,658,210 shares of the company were exchanged, compared to its average volume of 3,425,472. The business has a 50 day simple moving average of $16.42 and a two-hundred day simple moving average of $20.53. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. The stock has a market capitalization of $1.12 billion, a PE ratio of -2.62, a PEG ratio of 0.53 and a beta of 1.41. Foot Locker has a 52 week low of $11.16 and a 52 week high of $33.94.

Remove Ads

Foot Locker (NYSE:FL - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm had revenue of $2.25 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business earned $0.38 EPS. The company's revenue was down 5.7% compared to the same quarter last year. On average, analysts predict that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Foot Locker by 2.0% during the fourth quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer's stock valued at $228,589,000 after purchasing an additional 210,832 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Foot Locker by 88.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer's stock worth $115,365,000 after acquiring an additional 2,500,396 shares during the period. Geode Capital Management LLC boosted its position in Foot Locker by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer's stock worth $49,319,000 after purchasing an additional 25,394 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Foot Locker by 67.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer's stock valued at $41,483,000 after purchasing an additional 770,932 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Foot Locker by 5.2% during the 4th quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer's stock valued at $36,104,000 after purchasing an additional 81,814 shares during the last quarter.

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.