Foot Locker (NYSE:FL) Given New $61.00 Price Target at Buckingham Research

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Foot Locker (NYSE:FL) had its price target increased by equities research analysts at Buckingham Research from $54.00 to $61.00 in a research note issued on Tuesday, May 29th. The brokerage currently has a “buy” rating on the athletic footwear retailer’s stock. Buckingham Research’s price objective points to a potential upside of 11.66% from the company’s current price.

FL has been the topic of several other research reports. Pivotal Research set a $57.00 price objective on Foot Locker and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Jefferies Financial Group raised their price target on Foot Locker to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 25th. Citigroup decreased their price target on Foot Locker from $54.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, March 5th. ValuEngine lowered Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Canaccord Genuity set a $67.00 price objective on Foot Locker and gave the company a “buy” rating in a research note on Monday, February 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $56.24.

Shares of Foot Locker traded down $2.18, hitting $54.63, on Tuesday, according to MarketBeat Ratings. The company’s stock had a trading volume of 186,541 shares, compared to its average volume of 4,440,610. Foot Locker has a fifty-two week low of $28.42 and a fifty-two week high of $59.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.04 and a current ratio of 3.89. The firm has a market capitalization of $6.63 billion, a PE ratio of 13.70, a P/E/G ratio of 1.90 and a beta of 0.93.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, May 25th. The athletic footwear retailer reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.20. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.96 billion. Foot Locker had a return on equity of 19.60% and a net margin of 3.45%. The business’s revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.36 EPS. equities research analysts predict that Foot Locker will post 4.54 EPS for the current fiscal year.

In other news, CFO Lauren B. Peters sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $51.85, for a total transaction of $1,296,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Vestpro Financial Partners Inc. dba CPF Texas purchased a new position in shares of Foot Locker during the first quarter valued at approximately $486,000. Trilogy Capital Inc. purchased a new position in shares of Foot Locker during the first quarter valued at approximately $172,000. Levin Capital Strategies L.P. purchased a new position in Foot Locker in the first quarter worth $417,000. Wesbanco Bank Inc. purchased a new position in Foot Locker in the first quarter worth $1,829,000. Finally, CIBC World Markets Inc. boosted its position in Foot Locker by 67.6% in the first quarter. CIBC World Markets Inc. now owns 19,513 shares of the athletic footwear retailer’s stock worth $889,000 after purchasing an additional 7,867 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

Analyst Recommendations for Foot Locker (NYSE:FL)

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