Foot Locker, Inc. (NYSE:FL) Receives Average Recommendation of “Hold” from Brokerages

Shares of Foot Locker, Inc. (NYSE:FL) have been assigned a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $24.94.

Several equities analysts recently commented on FL shares. Williams Trading raised Foot Locker from a “sell” rating to a “hold” rating and boosted their price target for the stock from $17.00 to $21.00 in a research report on Wednesday, November 27th. Jefferies Financial Group cut their target price on Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, December 4th. Guggenheim cut their target price on Foot Locker from $34.00 to $28.00 and set a “buy” rating on the stock in a research report on Thursday, December 5th. JPMorgan Chase & Co. cut their target price on Foot Locker from $23.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, January 24th. Finally, UBS Group cut their target price on Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a research report on Thursday, December 5th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Foot Locker by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer’s stock worth $228,589,000 after buying an additional 210,832 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Foot Locker by 88.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after purchasing an additional 2,500,396 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Foot Locker by 1.3% in the third quarter. Geode Capital Management LLC now owns 1,908,253 shares of the athletic footwear retailer’s stock worth $49,319,000 after purchasing an additional 25,394 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Foot Locker by 67.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,906,406 shares of the athletic footwear retailer’s stock worth $41,483,000 after purchasing an additional 770,932 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Foot Locker by 5.2% in the fourth quarter. American Century Companies Inc. now owns 1,659,206 shares of the athletic footwear retailer’s stock worth $36,104,000 after purchasing an additional 81,814 shares in the last quarter.

Foot Locker Stock Performance

Foot Locker stock opened at $18.22 on Monday. The stock’s 50 day moving average price is $20.62 and its 200 day moving average price is $24.10. The firm has a market capitalization of $1.73 billion, a PE ratio of -4.04, a price-to-earnings-growth ratio of 0.54 and a beta of 1.48. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.45 and a current ratio of 1.67. Foot Locker has a one year low of $18.04 and a one year high of $35.60.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The company had revenue of $1.96 billion for the quarter, compared to analyst estimates of $2.01 billion. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.30 earnings per share. As a group, sell-side analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

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.