Foot Locker, Inc. (NYSE:FL) Receives $26.53 Consensus Price Target from Brokerages

Foot Locker, Inc. (NYSE:FL) has received a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $26.53.

FL has been the topic of a number of recent research reports. Piper Sandler reiterated a “neutral” rating and set a $30.00 price target on shares of Foot Locker in a research note on Friday, August 23rd. Robert W. Baird reduced their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Evercore ISI boosted their target price on shares of Foot Locker from $34.00 to $38.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. Telsey Advisory Group restated a “market perform” rating and issued a $27.00 target price on shares of Foot Locker in a research note on Wednesday, August 28th. Finally, StockNews.com downgraded shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Friday, September 20th.

Insider Activity

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $33.22, for a total value of $17,911,559.60. Following the sale, the insider now owns 10,393,592 shares in the company, valued at approximately $345,275,126.24. This represents a 4.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders sold 787,566 shares of company stock valued at $26,090,866. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FL. Mirae Asset Global Investments Co. Ltd. increased its position in Foot Locker by 12.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,598 shares of the athletic footwear retailer’s stock worth $1,357,000 after buying an additional 5,454 shares during the period. Texas Permanent School Fund Corp increased its position in Foot Locker by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 71,696 shares of the athletic footwear retailer’s stock worth $2,043,000 after buying an additional 931 shares during the period. Illinois Municipal Retirement Fund increased its position in Foot Locker by 43.9% during the 1st quarter. Illinois Municipal Retirement Fund now owns 66,513 shares of the athletic footwear retailer’s stock worth $1,896,000 after buying an additional 20,303 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in Foot Locker during the 1st quarter worth $3,488,000. Finally, Sei Investments Co. increased its position in shares of Foot Locker by 1.6% in the first quarter. Sei Investments Co. now owns 120,699 shares of the athletic footwear retailer’s stock worth $3,441,000 after purchasing an additional 1,851 shares during the period.

Foot Locker Stock Performance

FL opened at $23.61 on Friday. Foot Locker has a fifty-two week low of $20.47 and a fifty-two week high of $35.60. The company has a current ratio of 1.66, a quick ratio of 0.49 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average price is $24.82 and its two-hundred day moving average price is $25.71.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. On average, equities analysts anticipate that Foot Locker will post 1.5 EPS 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.