Foot Locker, Inc. (NYSE:FL)‘s stock had its “hold” rating reiterated by stock analysts at Cowen and Company in a research report issued on Thursday. They currently have a $37.00 target price on the athletic footwear retailer’s stock. Cowen and Company’s price target suggests a potential upside of 7.03% from the stock’s previous close.
Several other analysts also recently commented on the stock. ValuEngine downgraded shares of Foot Locker from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research cut shares of Foot Locker from a “hold” rating to a “strong sell” rating in a research note on Wednesday, August 30th. Morgan Stanley reiterated an “overweight” rating and issued a $50.00 target price (down from $65.00) on shares of Foot Locker in a research note on Tuesday, August 29th. BidaskClub cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, Buckingham Research reiterated a “buy” rating and issued a $47.00 target price (down from $61.00) on shares of Foot Locker in a research note on Tuesday, August 22nd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $65.21.
Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, August 18th. The athletic footwear retailer reported $0.62 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.28). The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Foot Locker had a net margin of 7.49% and a return on equity of 21.52%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same period last year, the company earned $0.94 earnings per share.
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Several institutional investors and hedge funds have recently made changes to their positions in the stock. Sentry Investment Management LLC grew its holdings in shares of Foot Locker by 131.7% in the second quarter. Sentry Investment Management LLC now owns 10,579 shares of the athletic footwear retailer’s stock valued at $521,000 after purchasing an additional 6,014 shares during the period. Toronto Dominion Bank grew its holdings in shares of Foot Locker by 24.5% in the second quarter. Toronto Dominion Bank now owns 44,472 shares of the athletic footwear retailer’s stock valued at $2,190,000 after purchasing an additional 8,746 shares during the period. Advisory Services Network LLC grew its holdings in shares of Foot Locker by 13.1% in the second quarter. Advisory Services Network LLC now owns 5,467 shares of the athletic footwear retailer’s stock valued at $269,000 after purchasing an additional 632 shares during the period. Afam Capital Inc. grew its holdings in shares of Foot Locker by 3.0% in the second quarter. Afam Capital Inc. now owns 19,624 shares of the athletic footwear retailer’s stock valued at $967,000 after purchasing an additional 573 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Foot Locker in the second quarter valued at about $599,000. 96.77% of the stock is owned by hedge funds and other institutional investors.
Foot Locker Company Profile
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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