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

Foot Locker, Inc. (NYSE:FL) has been given a consensus rating of “Hold” by the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $24.94.

FL has been the subject of several research reports. Guggenheim lowered their price objective on shares of Foot Locker from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Morgan Stanley lowered 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 report on Thursday, March 7th. StockNews.com upgraded shares of Foot Locker from a “sell” rating to a “hold” rating in a report on Monday. Barclays lowered their target price on shares of Foot Locker from $26.00 to $22.00 and set an “equal weight” rating for the company in a report on Thursday, March 7th. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $28.00 target price (down previously from $38.00) on shares of Foot Locker in a report on Thursday, March 7th.

Foot Locker Stock Performance

FL opened at $21.55 on Tuesday. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 0.52 and a beta of 1.43. The company has a fifty day moving average of $26.93 and a 200 day moving average of $26.37. Foot Locker has a fifty-two week low of $14.84 and a fifty-two week high of $42.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.55 and a current ratio of 1.72.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, March 6th. The athletic footwear retailer reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Foot Locker had a negative net margin of 4.04% and a positive return on equity of 4.25%. Foot Locker’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.97 earnings per share. As a group, sell-side analysts forecast that Foot Locker will post 1.56 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Foot Locker by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 10,292,817 shares of the athletic footwear retailer’s stock valued at $178,580,000 after purchasing an additional 902,610 shares during the period. Allspring Global Investments Holdings LLC increased its position in Foot Locker by 0.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,597,105 shares of the athletic footwear retailer’s stock valued at $45,060,000 after purchasing an additional 16,953 shares during the period. Barclays PLC increased its position in Foot Locker by 385.6% during the 3rd quarter. Barclays PLC now owns 1,746,876 shares of the athletic footwear retailer’s stock valued at $30,307,000 after purchasing an additional 1,387,154 shares during the period. Charles Schwab Investment Management Inc. increased its position in Foot Locker by 9.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 954,663 shares of the athletic footwear retailer’s stock valued at $29,738,000 after purchasing an additional 81,684 shares during the period. Finally, AQR Capital Management LLC increased its position in Foot Locker by 110.4% during the 3rd quarter. AQR Capital Management LLC now owns 731,256 shares of the athletic footwear retailer’s stock valued at $12,687,000 after purchasing an additional 383,724 shares during the period.

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.