Foot Locker, Inc. (NYSE:FL) Receives $24.56 Consensus Price Target from Analysts

Shares of Foot Locker, Inc. (NYSE:FL) have been assigned a consensus rating of “Hold” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $24.33.

Several equities research analysts recently issued reports on FL shares. Jefferies Financial Group cut their price objective on shares of Foot Locker from $25.00 to $24.00 and set a “hold” rating for the company in a research report on Wednesday, March 6th. Citigroup upgraded Foot Locker from a “sell” rating to a “neutral” rating and upped their price objective for the company from $19.00 to $24.00 in a report on Friday, March 22nd. Morgan Stanley cut their target price on Foot Locker from $26.00 to $20.00 and set an “equal weight” rating for the company in a research note on Monday, May 6th. Guggenheim decreased their price target on Foot Locker from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Finally, Bank of America cut their price objective on Foot Locker from $31.00 to $27.00 and set a “neutral” rating for the company in a research report on Thursday, March 7th.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently modified their holdings of FL. Barclays PLC raised its holdings in Foot Locker by 385.6% in the third quarter. Barclays PLC now owns 1,746,876 shares of the athletic footwear retailer’s stock valued at $30,307,000 after acquiring an additional 1,387,154 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Foot Locker by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock valued at $178,580,000 after purchasing an additional 902,610 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of Foot Locker by 326.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock worth $26,256,000 after purchasing an additional 705,237 shares during the last quarter. Norges Bank acquired a new position in shares of Foot Locker during the fourth quarter worth $21,238,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in Foot Locker in the fourth quarter valued at $20,717,000.

Foot Locker Trading Down 0.4 %

FL opened at $22.82 on Friday. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -6.52, a price-to-earnings-growth ratio of 0.55 and a beta of 1.50. The company’s 50 day simple moving average is $23.37 and its two-hundred day simple moving average is $26.55. Foot Locker has a 1-year low of $14.84 and a 1-year high of $35.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.72 and a quick ratio of 0.55.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, March 6th. The athletic footwear retailer reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Foot Locker had a positive return on equity of 4.25% and a negative net margin of 4.04%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter last year, the business posted $0.97 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Foot Locker will post 1.55 EPS for the current fiscal 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.