Telsey Advisory Group Reiterates “Market Perform” Rating for Foot Locker (NYSE:FL)

Foot Locker (NYSE:FL)‘s stock had its “market perform” rating reissued by research analysts at Telsey Advisory Group in a report issued on Wednesday, Benzinga reports. They presently have a $27.00 price target on the athletic footwear retailer’s stock. Telsey Advisory Group’s price target would indicate a potential downside of 18.08% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. Wedbush reiterated a “neutral” rating and set a $25.00 price target on shares of Foot Locker in a report on Wednesday, June 12th. Morgan Stanley cut Foot Locker from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $24.00 to $18.00 in a research note on Thursday, July 18th. StockNews.com cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research report on Wednesday, June 19th. Citigroup increased their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Barclays raised their target price on shares of Foot Locker from $22.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, May 31st. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $24.40.

Foot Locker Stock Up 1.1 %

FL stock opened at $32.96 on Wednesday. Foot Locker has a twelve month low of $14.84 and a twelve month high of $35.60. The company has a market cap of $3.12 billion, a price-to-earnings ratio of -8.70, a P/E/G ratio of 0.79 and a beta of 1.46. The company has a quick ratio of 0.50, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The business has a 50 day moving average price of $26.74 and a two-hundred day moving average price of $26.07.

Foot Locker (NYSE:FL) last issued its earnings results on Thursday, May 30th. The athletic footwear retailer reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.10. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 earnings per share. Analysts anticipate that Foot Locker will post 1.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $32.90, for a total transaction of $49,350.00. Following the completion of the sale, the insider now directly owns 11,402,353 shares in the company, valued at approximately $375,137,413.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently made changes to their positions in FL. New York State Common Retirement Fund boosted its position in shares of Foot Locker by 1.1% during the 4th quarter. New York State Common Retirement Fund now owns 33,635 shares of the athletic footwear retailer’s stock worth $1,048,000 after acquiring an additional 353 shares in the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Foot Locker by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 26,662 shares of the athletic footwear retailer’s stock valued at $831,000 after purchasing an additional 358 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of Foot Locker by 0.9% in the 4th quarter. Yousif Capital Management LLC now owns 44,686 shares of the athletic footwear retailer’s stock valued at $1,392,000 after purchasing an additional 380 shares during the last quarter. CWM LLC raised its holdings in shares of Foot Locker by 26.7% during the 4th quarter. CWM LLC now owns 1,836 shares of the athletic footwear retailer’s stock worth $57,000 after buying an additional 387 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its position in shares of Foot Locker by 3.1% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock worth $355,000 after buying an additional 431 shares during the last quarter.

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.