Foot Locker (NYSE:FL) Price Target Cut to $63.00

Foot Locker (NYSE:FL) had its price target reduced by Deutsche Bank from $68.00 to $63.00 in a report published on Monday, BenzingaRatingsTable reports. They currently have a buy rating on the athletic footwear retailer’s stock.

A number of other equities analysts have also commented on FL. Pivotal Research reiterated a buy rating and set a $60.00 price target on shares of Foot Locker in a report on Tuesday, May 28th. ValuEngine lowered shares of Foot Locker from a hold rating to a sell rating in a report on Friday, May 24th. TheStreet lowered shares of Foot Locker from a b- rating to a c+ rating in a report on Monday, June 17th. Canaccord Genuity lowered their target price on shares of Foot Locker from $82.00 to $81.00 and set a buy rating for the company in a research note on Friday, May 24th. Finally, Guggenheim reissued a buy rating and set a $60.00 target price on shares of Foot Locker in a research note on Friday, May 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $66.44.

Shares of NYSE:FL opened at $41.93 on Monday. The firm has a market cap of $4.30 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 0.79 and a beta of 0.98. The firm’s fifty day moving average is $40.99 and its 200-day moving average is $51.11. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 2.01. Foot Locker has a 52 week low of $36.81 and a 52 week high of $68.00.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.08). The business 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%. Foot Locker’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 EPS. Sell-side analysts forecast that Foot Locker will post 5 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Thursday, October 17th. Foot Locker’s dividend payout ratio is presently 32.27%.

In related news, Director Matthew M. Mckenna sold 7,000 shares of Foot Locker stock in a transaction on Friday, August 9th. The shares were sold at an average price of $40.53, for a total transaction of $283,710.00. Following the completion of the transaction, the director now owns 26,862 shares of the company’s stock, valued at $1,088,716.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.40% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Magnetar Financial LLC increased its position in shares of Foot Locker by 30.5% during the second quarter. Magnetar Financial LLC now owns 20,536 shares of the athletic footwear retailer’s stock worth $861,000 after acquiring an additional 4,795 shares in the last quarter. Prudential PLC increased its position in shares of Foot Locker by 12.2% during the second quarter. Prudential PLC now owns 1,083,362 shares of the athletic footwear retailer’s stock worth $45,432,000 after acquiring an additional 117,645 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Foot Locker by 191.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,182 shares of the athletic footwear retailer’s stock worth $415,000 after acquiring an additional 6,685 shares in the last quarter. Private Capital Group LLC boosted its holdings in Foot Locker by 80.3% during the second quarter. Private Capital Group LLC now owns 1,082 shares of the athletic footwear retailer’s stock worth $57,000 after purchasing an additional 482 shares during the last quarter. Finally, United Services Automobile Association boosted its holdings in Foot Locker by 1.6% during the second quarter. United Services Automobile Association now owns 113,453 shares of the athletic footwear retailer’s stock worth $4,756,000 after purchasing an additional 1,799 shares during the last quarter. 99.61% of the stock is owned by hedge funds and other institutional investors.

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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