Foot Locker, Inc. (NYSE:FL) Receives $22.81 Consensus PT from Brokerages

Shares of Foot Locker, Inc. (NYSE:FL) have been given a consensus rating of “Hold” by the sixteen ratings firms that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $21.94.

Several analysts have weighed in on the company. Robert W. Baird lowered their price target on Foot Locker from $24.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. JPMorgan Chase & Co. dropped their target price on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, January 24th. Piper Sandler decreased their price target on shares of Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday. UBS Group dropped their price objective on shares of Foot Locker from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $24.00 target price on shares of Foot Locker in a research note on Wednesday, March 5th.

Foot Locker Stock Performance

Foot Locker stock opened at $11.81 on Tuesday. Foot Locker has a 1-year low of $11.16 and a 1-year high of $33.94. The company has a current ratio of 1.67, a quick ratio of 0.45 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.12 billion, a PE ratio of -2.62, a price-to-earnings-growth ratio of 0.53 and a beta of 1.41. The firm’s 50 day simple moving average is $16.42 and its 200 day simple moving average is $20.53.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.13. The firm had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 earnings per share. As a group, analysts expect that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Institutional Trading of Foot Locker

A number of institutional investors have recently made changes to their positions in FL. Harbour Investments Inc. increased its stake in shares of Foot Locker by 81.6% in the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after buying an additional 648 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Foot Locker in the 4th quarter worth $32,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Foot Locker in the third quarter valued at about $58,000. R Squared Ltd bought a new position in shares of Foot Locker during the fourth quarter valued at about $50,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after purchasing an additional 2,343 shares during the period.

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.