Canaccord Genuity Analysts Give Foot Locker (NYSE:FL) a $63.00 Price Target

Foot Locker (NYSE:FL) has been given a $63.00 target price by analysts at Canaccord Genuity in a research note issued on Monday, September 24th. The brokerage currently has a “buy” rating on the athletic footwear retailer’s stock. Canaccord Genuity’s target price would suggest a potential upside of 28.62% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. B. Riley upped their price target on shares of Foot Locker to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, May 29th. Morgan Stanley assumed coverage on shares of Foot Locker in a research report on Wednesday, August 1st. They issued an “underweight” rating and a $44.00 price target for the company. Zacks Investment Research upgraded shares of Foot Locker from a “hold” rating to a “buy” rating and set a $59.00 price target for the company in a research report on Tuesday, July 17th. Wedbush upped their price target on shares of Foot Locker from $61.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, June 8th. Finally, Pivotal Research set a $64.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a research report on Tuesday, May 29th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. Foot Locker currently has an average rating of “Buy” and a consensus target price of $56.13.

Shares of Foot Locker stock opened at $48.98 on Monday. The company has a market cap of $5.86 billion, a PE ratio of 11.92, a PEG ratio of 1.78 and a beta of 0.81. Foot Locker has a 1-year low of $28.42 and a 1-year high of $59.40. The company has a quick ratio of 1.76, a current ratio of 3.50 and a debt-to-equity ratio of 0.05.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 24th. The athletic footwear retailer reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.05. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.76 billion. Foot Locker had a net margin of 3.88% and a return on equity of 20.67%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.62 EPS. On average, research analysts forecast that Foot Locker will post 4.46 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of FL. Rampart Investment Management Company LLC increased its stake in shares of Foot Locker by 119.0% in the first quarter. Rampart Investment Management Company LLC now owns 3,626 shares of the athletic footwear retailer’s stock worth $165,000 after purchasing an additional 1,970 shares in the last quarter. Trilogy Capital Inc. bought a new position in shares of Foot Locker in the first quarter valued at approximately $172,000. Stephens Inc. AR bought a new position in shares of Foot Locker in the second quarter valued at approximately $203,000. Fiera Capital Corp bought a new position in shares of Foot Locker in the second quarter valued at approximately $208,000. Finally, Advisors Asset Management Inc. lifted its position in Foot Locker by 61.6% during the second quarter. Advisors Asset Management Inc. now owns 4,176 shares of the athletic footwear retailer’s stock valued at $220,000 after purchasing an additional 1,592 shares during the last quarter. Institutional investors and hedge funds own 96.80% of the company’s stock.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

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Analyst Recommendations for Foot Locker (NYSE:FL)

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