Foot Locker (FL) PT Set at $67.00 by Canaccord Genuity

Foot Locker (NYSE:FL) has been given a $67.00 price target by Canaccord Genuity in a research report issued to clients and investors on Sunday, January 7th. The brokerage presently has a “buy” rating on the athletic footwear retailer’s stock. Canaccord Genuity’s price objective indicates a potential upside of 39.38% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. B. Riley reaffirmed a “neutral” rating on shares of Foot Locker in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Foot Locker from a “sell” rating to a “hold” rating in a research note on Monday, October 23rd. Telsey Advisory Group lowered their price objective on shares of Foot Locker from $36.00 to $34.00 and set a “market perform” rating on the stock in a research note on Monday, November 13th. Citigroup increased their price objective on shares of Foot Locker from $40.00 to $47.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Finally, Wedbush reissued an “outperform” rating and issued a $39.00 price objective (down from $46.00) on shares of Foot Locker in a research note on Monday, November 20th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $53.82.

Foot Locker (NYSE:FL) opened at $48.07 on Friday. The company has a market cap of $5,691.79, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 2.30 and a beta of 0.82. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.09 and a current ratio of 4.41. Foot Locker has a 12-month low of $28.42 and a 12-month high of $77.86.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Friday, November 17th. The athletic footwear retailer reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $1.13 EPS. Foot Locker’s quarterly revenue was down .8% on a year-over-year basis. sell-side analysts expect that Foot Locker will post 4.08 earnings per share for the current year.

In other Foot Locker news, Director Matthew M. Mckenna sold 10,899 shares of the firm’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $45.82, for a total transaction of $499,392.18. Following the sale, the director now directly owns 35,000 shares of the company’s stock, valued at approximately $1,603,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in FL. Schwab Charles Investment Management Inc. lifted its holdings in shares of Foot Locker by 3.5% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 611,131 shares of the athletic footwear retailer’s stock worth $30,117,000 after acquiring an additional 20,948 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Foot Locker by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 20,020 shares of the athletic footwear retailer’s stock worth $987,000 after acquiring an additional 1,288 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Foot Locker by 49.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,935 shares of the athletic footwear retailer’s stock worth $194,000 after acquiring an additional 1,305 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Foot Locker by 35.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 945,918 shares of the athletic footwear retailer’s stock worth $46,615,000 after acquiring an additional 247,578 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new position in shares of Foot Locker during the 2nd quarter worth about $645,000. Institutional investors and hedge funds own 89.91% of the company’s stock.

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Foot Locker Company Profile

Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include 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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