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

Foot Locker, Inc. (NYSE:FL) has received an average rating of “Hold” from the sixteen brokerages that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $21.3333.

Several brokerages have commented on FL. Telsey Advisory Group reiterated a “market perform” rating and issued a $24.00 target price on shares of Foot Locker in a report on Tuesday, September 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Foot Locker in a research note on Wednesday, August 27th. Wall Street Zen downgraded shares of Foot Locker to a “strong sell” rating in a research note on Saturday, August 30th. Robert W. Baird raised their target price on Foot Locker from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, August 28th. Finally, Zacks Research upgraded Foot Locker from a “strong sell” rating to a “hold” rating in a report on Monday, August 18th.

Insider Buying and Selling at Foot Locker

In other news, President Franklin Bracken sold 14,922 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $24.50, for a total value of $365,589.00. Following the completion of the sale, the president directly owned 213,496 shares of the company’s stock, valued at $5,230,652. This represents a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Foot Locker

Several institutional investors have recently made changes to their positions in FL. Charles Schwab Investment Management Inc. increased its holdings in Foot Locker by 2.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,207,430 shares of the athletic footwear retailer’s stock worth $17,025,000 after buying an additional 30,981 shares during the last quarter. Vontobel Holding Ltd. grew its position in Foot Locker by 55.0% in the first quarter. Vontobel Holding Ltd. now owns 46,847 shares of the athletic footwear retailer’s stock worth $661,000 after acquiring an additional 16,618 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Foot Locker by 250.6% during the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer’s stock worth $35,000 after purchasing an additional 1,764 shares during the last quarter. Teacher Retirement System of Texas bought a new position in shares of Foot Locker during the 1st quarter valued at $176,000. Finally, Vident Advisory LLC acquired a new stake in shares of Foot Locker in the 1st quarter valued at $285,000.

Foot Locker Stock Performance

Shares of NYSE FL opened at $24.03 on Tuesday. The stock’s fifty day simple moving average is $24.89 and its 200 day simple moving average is $21.00. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -5.96, a PEG ratio of 2.17 and a beta of 1.79. The company has a quick ratio of 0.45, a current ratio of 1.59 and a debt-to-equity ratio of 0.17. Foot Locker has a 52-week low of $11.00 and a 52-week high of $29.24.

Foot Locker (NYSE:FL) last announced its earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.32). The company had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Foot Locker had a negative net margin of 4.90% and a positive return on equity of 2.92%. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.05) earnings per share. As a group, sell-side analysts forecast that Foot Locker will post 1.23 earnings per share 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.