Foot Locker, Inc. (NYSE:FL) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Foot Locker, Inc. (NYSE:FL) have earned an average recommendation of “Hold” from the fifteen research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $21.20.

FL has been the topic of a number of research reports. Robert W. Baird set a $24.00 price objective on Foot Locker in a report on Thursday, May 29th. JPMorgan Chase & Co. raised Foot Locker from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $16.00 to $24.00 in a report on Thursday, May 15th. The Goldman Sachs Group cut their price objective on Foot Locker from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen lowered Foot Locker from a “hold” rating to a “sell” rating in a report on Friday, April 11th. Finally, Gordon Haskett lowered Foot Locker from a “moderate buy” rating to a “hold” rating in a report on Thursday, May 15th.

Foot Locker Price Performance

FL opened at $24.79 on Thursday. The business has a fifty day moving average of $23.08 and a 200 day moving average of $18.96. Foot Locker has a 52-week low of $11.00 and a 52-week high of $33.94. The company has a quick ratio of 0.49, a current ratio of 1.64 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.37 billion, a P/E ratio of -6.57, a PEG ratio of 2.08 and a beta of 1.72.

Foot Locker (NYSE:FL) last issued its earnings results on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share for the quarter, hitting the consensus estimate of ($0.07). Foot Locker had a positive return on equity of 3.65% and a negative net margin of 4.54%. The business had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned $0.22 EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Foot Locker will post 1.23 EPS for the current year.

Insider Buying and Selling

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total value of $557,336.70. Following the transaction, the chief accounting officer owned 93,895 shares of the company’s stock, valued at $2,337,985.50. This trade represents a 19.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.89% of the company’s stock.

Institutional Investors Weigh In On Foot Locker

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FL. Vanguard Group Inc. increased its holdings in shares of Foot Locker by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 10,505,006 shares of the athletic footwear retailer’s stock valued at $228,589,000 after buying an additional 210,832 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Foot Locker by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,174,832 shares of the athletic footwear retailer’s stock valued at $44,765,000 after buying an additional 136,836 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Foot Locker by 20.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 2,290,707 shares of the athletic footwear retailer’s stock valued at $32,299,000 after buying an additional 384,301 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Foot Locker by 17.0% in the first quarter. American Century Companies Inc. now owns 1,940,528 shares of the athletic footwear retailer’s stock valued at $27,361,000 after buying an additional 281,322 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC increased its holdings in shares of Foot Locker by 8.5% in the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,736,845 shares of the athletic footwear retailer’s stock valued at $24,490,000 after buying an additional 135,982 shares in the last quarter.

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.