Piper Jaffray Companies Reiterates $35.00 Price Target for Foot Locker (FL)

Foot Locker (NYSE:FL) received a $35.00 target price from equities research analysts at Piper Jaffray Companies in a research note issued on Tuesday, November 14th. The brokerage currently has a “hold” rating on the athletic footwear retailer’s stock. Piper Jaffray Companies’ price target would indicate a potential downside of 19.19% from the company’s current price.

A number of other brokerages have also issued reports on FL. Morgan Stanley upgraded Foot Locker from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $70.00 to $65.00 in a research report on Tuesday, August 8th. Credit Suisse Group restated a “neutral” rating and issued a $52.00 price objective (down previously from $66.00) on shares of Foot Locker in a report on Tuesday, August 1st. ValuEngine upgraded Foot Locker from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Jefferies Group set a $61.00 price objective on Foot Locker and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Telsey Advisory Group downgraded Foot Locker from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research note on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $53.26.

Foot Locker (FL) traded up $0.47 on Tuesday, hitting $43.31. 5,990,000 shares of the stock traded hands, compared to its average volume of 6,250,967. Foot Locker has a 12-month low of $28.42 and a 12-month high of $79.43. The company has a current ratio of 4.39, a quick ratio of 2.08 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5,370.35, a P/E ratio of 10.26, a P/E/G ratio of 2.13 and a beta of 0.81.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the company earned $1.13 EPS. Foot Locker’s quarterly revenue was down .8% on a year-over-year basis. research analysts expect that Foot Locker will post 4.06 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Afam Capital Inc. lifted its position in shares of Foot Locker by 73.4% in the third quarter. Afam Capital Inc. now owns 34,033 shares of the athletic footwear retailer’s stock valued at $1,199,000 after acquiring an additional 14,409 shares in the last quarter. Highlander Capital Management LLC purchased a new stake in shares of Foot Locker in the third quarter valued at $352,000. Cubist Systematic Strategies LLC lifted its position in shares of Foot Locker by 8.4% in the third quarter. Cubist Systematic Strategies LLC now owns 51,637 shares of the athletic footwear retailer’s stock valued at $1,819,000 after acquiring an additional 3,981 shares in the last quarter. U S Global Investors Inc. purchased a new stake in shares of Foot Locker in the third quarter valued at $321,000. Finally, Vident Investment Advisory LLC lifted its position in shares of Foot Locker by 95.6% in the third quarter. Vident Investment Advisory LLC now owns 69,782 shares of the athletic footwear retailer’s stock valued at $2,457,000 after acquiring an additional 34,103 shares in the last quarter. Institutional investors and hedge funds own 88.22% 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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