Foot Locker (NYSE:FL) Price Target Lowered to $62.00 at B. Riley

Foot Locker (NYSE:FL) had its target price reduced by B. Riley from $73.00 to $62.00 in a research note issued to investors on Monday morning, BenzingaRatingsTable reports. They currently have a buy rating on the athletic footwear retailer’s stock. B. Riley also issued estimates for Foot Locker’s FY2020 earnings at $5.04 EPS.

Several other research analysts also recently commented on FL. Morgan Stanley raised Foot Locker from an underweight rating to an equal weight rating and set a $40.00 target price on the stock in a report on Thursday, August 8th. Guggenheim reaffirmed a buy rating and set a $60.00 target price on shares of Foot Locker in a report on Friday, May 24th. Pivotal Research reaffirmed a buy rating and set a $60.00 target price on shares of Foot Locker in a report on Tuesday, May 28th. Canaccord Genuity cut their target price on Foot Locker from $82.00 to $81.00 and set a buy rating on the stock in a report on Friday, May 24th. Finally, ValuEngine downgraded Foot Locker from a hold rating to a sell rating in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $66.44.

Shares of FL opened at $39.76 on Monday. The company has a market capitalization of $4.35 billion, a PE ratio of 8.44, a PEG ratio of 0.78 and a beta of 0.98. Foot Locker has a 12 month low of $36.81 and a 12 month high of $68.00. The stock’s 50-day moving average price is $40.98 and its two-hundred day moving average price is $51.18. The company has a current ratio of 2.01, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12.

Foot Locker (NYSE:FL) last announced its earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.08). The company had revenue of $2.08 billion for the quarter, compared to analyst estimates of $2.11 billion. Foot Locker had a return on equity of 21.75% and a net margin of 6.86%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.45 earnings per share. Equities research analysts predict that Foot Locker will post 5 EPS for the current fiscal year.

In related news, Director Matthew M. Mckenna sold 7,000 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $40.53, for a total value of $283,710.00. Following the completion of the sale, the director now directly owns 26,862 shares of the company’s stock, valued at approximately $1,088,716.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of FL. Ruffer LLP increased its position in Foot Locker by 17,198.5% in the 2nd quarter. Ruffer LLP now owns 1,891,076 shares of the athletic footwear retailer’s stock valued at $79,283,000 after buying an additional 1,880,144 shares in the last quarter. AQR Capital Management LLC increased its position in Foot Locker by 13.7% in the 2nd quarter. AQR Capital Management LLC now owns 7,277,992 shares of the athletic footwear retailer’s stock valued at $304,803,000 after buying an additional 878,954 shares in the last quarter. LSV Asset Management increased its position in Foot Locker by 23.5% in the 1st quarter. LSV Asset Management now owns 4,199,887 shares of the athletic footwear retailer’s stock valued at $254,513,000 after buying an additional 798,850 shares in the last quarter. Prudential Financial Inc. increased its position in Foot Locker by 43.9% in the 2nd quarter. Prudential Financial Inc. now owns 2,267,201 shares of the athletic footwear retailer’s stock valued at $95,041,000 after buying an additional 692,126 shares in the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd bought a new stake in Foot Locker in the 1st quarter valued at about $40,444,000. 99.61% of the stock is owned by institutional investors and hedge funds.

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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