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

Shares of Foot Locker, Inc. (NYSE:FL) have been given an average recommendation of “Hold” by the sixteen ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $21.3333.

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

Insider Activity

In other news, President Franklin Bracken sold 14,922 shares of Foot Locker stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $24.50, for a total transaction of $365,589.00. Following the sale, the president owned 213,496 shares of the company’s stock, valued at approximately $5,230,652. The trade was a 6.53% decrease in their position. The transaction was disclosed in a filing 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

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FL. Norges Bank acquired a new position in shares of Foot Locker in the 2nd quarter valued at $37,975,000. Alliancebernstein L.P. increased its position in shares of Foot Locker by 1,249.5% during the 2nd quarter. Alliancebernstein L.P. now owns 1,510,886 shares of the athletic footwear retailer’s stock worth $37,017,000 after purchasing an additional 1,398,924 shares during the last quarter. AQR Arbitrage LLC purchased a new stake in Foot Locker in the 2nd quarter valued at about $29,349,000. Man Group plc lifted its position in Foot Locker by 890.3% in the second quarter. Man Group plc now owns 1,047,369 shares of the athletic footwear retailer’s stock valued at $25,661,000 after buying an additional 941,601 shares during the last quarter. Finally, P Schoenfeld Asset Management LP purchased a new position in Foot Locker during the second quarter worth about $19,562,000.

Foot Locker Stock Performance

NYSE:FL opened at $24.03 on Tuesday. The company has a market cap of $2.30 billion, a P/E ratio of -5.96, a P/E/G ratio of 2.17 and a beta of 1.79. Foot Locker has a twelve month low of $11.00 and a twelve month high of $29.24. The company’s 50-day moving average price is $24.78 and its 200-day moving average price is $21.18. The company has a current ratio of 1.59, a quick ratio of 0.45 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.32). Foot Locker had a negative net margin of 4.90% and a positive return on equity of 2.92%. The business had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the company posted ($0.05) EPS. The firm’s revenue was down 2.3% on a year-over-year basis. On average, 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.