Brokerages Set Foot Locker, Inc. (NYSE:FL) Price Target at $26.53

Shares of Foot Locker, Inc. (NYSE:FL) have earned an average recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $26.53.

A number of analysts recently weighed in on the stock. Gordon Haskett assumed coverage on shares of Foot Locker in a research note on Monday, October 7th. They set an “accumulate” rating and a $27.00 price target for the company. Citigroup increased their price target on shares of Foot Locker from $27.00 to $33.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 20th. Telsey Advisory Group reiterated a “market perform” rating and set a $27.00 price target on shares of Foot Locker in a research note on Wednesday, August 28th. Robert W. Baird reduced their target price on shares of Foot Locker from $35.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $30.00 price objective on shares of Foot Locker in a research note on Friday, August 23rd.

Insiders Place Their Bets

In related news, major shareholder Vesa Equity Investment S.A R.L sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $32.90, for a total transaction of $49,350.00. Following the transaction, the insider now owns 11,402,353 shares of the company’s stock, valued at approximately $375,137,413.70. This trade represents a 0.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 787,566 shares of company stock worth $26,090,866 over the last ninety days. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Foot Locker

A number of institutional investors have recently modified their holdings of the company. Patriot Financial Group Insurance Agency LLC raised its position in shares of Foot Locker by 3.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 14,235 shares of the athletic footwear retailer’s stock valued at $355,000 after purchasing an additional 431 shares during the period. Nisa Investment Advisors LLC increased its position in Foot Locker by 1.2% during the second quarter. Nisa Investment Advisors LLC now owns 41,541 shares of the athletic footwear retailer’s stock worth $1,035,000 after acquiring an additional 483 shares during the period. Arizona State Retirement System increased its position in Foot Locker by 2.2% during the second quarter. Arizona State Retirement System now owns 23,808 shares of the athletic footwear retailer’s stock worth $593,000 after acquiring an additional 518 shares during the period. SummerHaven Investment Management LLC increased its position in Foot Locker by 2.5% during the second quarter. SummerHaven Investment Management LLC now owns 27,671 shares of the athletic footwear retailer’s stock worth $690,000 after acquiring an additional 667 shares during the period. Finally, Fifth Third Bancorp increased its position in Foot Locker by 116.0% during the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer’s stock worth $34,000 after acquiring an additional 733 shares during the period.

Foot Locker Price Performance

Shares of NYSE:FL opened at $23.61 on Friday. Foot Locker has a 52 week low of $20.47 and a 52 week high of $35.60. The company’s 50 day moving average is $24.82 and its two-hundred day moving average is $25.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. On average, analysts expect that Foot Locker will post 1.5 earnings per share for the current year.

Foot Locker Company Profile

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.