Foot Locker, Inc. (NYSE:FL) Receives $24.94 Consensus Price Target from Brokerages

Shares of Foot Locker, Inc. (NYSE:FL) have earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $24.94.

A number of equities analysts have recently weighed in on the stock. Piper Sandler cut their price objective on Foot Locker from $37.00 to $31.00 and set an “overweight” rating for the company in a report on Thursday, March 7th. Telsey Advisory Group reissued a “market perform” rating and issued a $28.00 target price (down from $38.00) on shares of Foot Locker in a research report on Thursday, March 7th. Morgan Stanley reduced their price objective on shares of Foot Locker from $28.00 to $26.00 and set an “equal weight” rating for the company in a research note on Thursday, March 7th. Bank of America lowered their target price on shares of Foot Locker from $31.00 to $27.00 and set a “neutral” rating on the stock in a research report on Thursday, March 7th. Finally, Jefferies Financial Group decreased their price target on Foot Locker from $25.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, March 6th.

Foot Locker Stock Down 2.8 %

NYSE:FL opened at $21.36 on Tuesday. The business’s fifty day moving average price is $26.08 and its 200 day moving average price is $26.42. 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 has a 1-year low of $14.84 and a 1-year high of $42.79.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Foot Locker will post 1.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quadrant Capital Group LLC lifted its position in Foot Locker by 3,004.4% during the 4th quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after buying an additional 1,352 shares in the last quarter. Global Retirement Partners LLC grew its stake in shares of Foot Locker by 444.4% during the third quarter. Global Retirement Partners LLC now owns 1,666 shares of the athletic footwear retailer’s stock valued at $31,000 after purchasing an additional 1,360 shares during the last quarter. CWM LLC increased its holdings in shares of Foot Locker by 26.7% in the fourth quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock valued at $57,000 after purchasing an additional 387 shares in the last quarter. International Assets Investment Management LLC bought a new position in Foot Locker in the 4th quarter worth approximately $100,000. Finally, Sunbelt Securities Inc. acquired a new position in Foot Locker during the 1st quarter worth $100,000.

Foot Locker Company Profile

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.