Foot Locker, Inc. (NYSE:FL)‘s stock had its “neutral” rating reissued by stock analysts at FBR & Co in a report released on Tuesday, August 15th, Marketbeat reports. They currently have a $58.00 price objective on the athletic footwear retailer’s stock. FBR & Co’s target price indicates a potential upside of 82.28% from the stock’s previous close.
Other research analysts also recently issued research reports about the company. BidaskClub downgraded Foot Locker from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. TheStreet downgraded Foot Locker from a “b-” rating to a “c+” rating in a report on Friday, June 30th. Jefferies Group LLC set a $80.00 target price on Foot Locker and gave the stock a “buy” rating in a report on Tuesday, June 20th. Oppenheimer Holdings, Inc. began coverage on Foot Locker in a report on Friday, July 7th. They set a “market perform” rating on the stock. Finally, Deutsche Bank AG set a $72.00 target price on Foot Locker and gave the stock a “buy” rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company’s stock. Foot Locker has an average rating of “Hold” and an average target price of $66.41.
Shares of Foot Locker (FL) opened at 31.82 on Tuesday. The firm has a market cap of $4.20 billion, a PE ratio of 7.35 and a beta of 0.68. Foot Locker has a 52 week low of $31.72 and a 52 week high of $79.43. The stock has a 50 day moving average price of $47.42 and a 200 day moving average price of $62.92. Foot Locker also was the target of some unusual options trading on Monday. Stock traders bought 7,692 call options on the company. This is an increase of approximately 126% compared to the typical volume of 3,406 call options.
Foot Locker (NYSE:FL) last released its quarterly earnings results on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by $0.28. The business had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 EPS. Equities analysts expect that Foot Locker will post $4.57 earnings per share for the current year.
In other news, Director Jarobin Gilbert, Jr. sold 5,600 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $59.40, for a total transaction of $332,640.00. Following the sale, the director now directly owns 8,964 shares of the company’s stock, valued at $532,461.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.73% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in Foot Locker by 130.0% in the first quarter. JPMorgan Chase & Co. now owns 698,340 shares of the athletic footwear retailer’s stock worth $52,244,000 after buying an additional 394,688 shares in the last quarter. Todd Asset Management LLC increased its position in Foot Locker by 34.3% in the first quarter. Todd Asset Management LLC now owns 582,371 shares of the athletic footwear retailer’s stock valued at $43,567,000 after buying an additional 148,889 shares during the period. Omega Advisors Inc. bought a new position in Foot Locker during the first quarter valued at $11,222,000. Russell Investments Group Ltd. increased its position in Foot Locker by 6.6% in the first quarter. Russell Investments Group Ltd. now owns 138,739 shares of the athletic footwear retailer’s stock valued at $10,382,000 after buying an additional 8,617 shares during the period. Finally, BlackRock Inc. increased its position in Foot Locker by 2,189.3% in the first quarter. BlackRock Inc. now owns 9,163,944 shares of the athletic footwear retailer’s stock valued at $685,553,000 after buying an additional 8,763,641 shares during the period. Institutional investors own 93.49% of the company’s stock.
About Foot Locker
Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.
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