Foot Locker, Inc. (NYSE:FL) Receives Average Recommendation of “Hold” from Analysts

Shares of Foot Locker, Inc. (NYSE:FL) have received an average recommendation of “Hold” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.44.

Several analysts recently commented on the company. UBS Group dropped their target price on Foot Locker from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, March 6th. Piper Sandler dropped their target price on Foot Locker from $19.00 to $12.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Citigroup raised their target price on Foot Locker from $20.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. The Goldman Sachs Group dropped their price objective on Foot Locker from $19.00 to $17.00 and set a “sell” rating on the stock in a report on Tuesday, April 22nd. Finally, Needham & Company LLC set a $24.00 price objective on Foot Locker in a report on Thursday.

Foot Locker Trading Down 0.7%

Shares of NYSE:FL opened at $23.77 on Wednesday. Foot Locker has a 52-week low of $11.00 and a 52-week high of $33.94. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -5.27, a PEG ratio of 0.53 and a beta of 1.42. The company has a quick ratio of 0.45, a current ratio of 1.67 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $15.30 and a 200-day moving average price of $18.54.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Thursday, May 29th. The athletic footwear retailer reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was down 4.6% compared to the same quarter last year. Equities analysts predict that Foot Locker will post 1.23 EPS for the current year.

Hedge Funds Weigh In On Foot Locker

Large investors have recently modified their holdings of the business. Harbour Investments Inc. lifted its stake in shares of Foot Locker by 81.6% in the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after purchasing an additional 648 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Foot Locker in the 4th quarter valued at $32,000. R Squared Ltd purchased a new stake in shares of Foot Locker in the 4th quarter valued at $50,000. GAMMA Investing LLC raised its holdings in shares of Foot Locker by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer’s stock valued at $35,000 after buying an additional 1,764 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of Foot Locker by 819.2% in the 4th quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock valued at $57,000 after buying an additional 2,343 shares during the period.

About Foot Locker

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.