Foot Locker’s (FL) Market Perform Rating Reaffirmed at Telsey Advisory Group

Telsey Advisory Group restated their market perform rating on shares of Foot Locker (NYSE:FL) in a research report released on Thursday morning,Benzinga reports. They currently have a $20.00 target price on the athletic footwear retailer’s stock.

Several other equities research analysts have also recently weighed in on FL. Barclays dropped their price target on shares of Foot Locker from $24.00 to $14.00 and set an “overweight” rating for the company in a research report on Monday, May 12th. Evercore ISI dropped their target price on shares of Foot Locker from $22.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, April 11th. Morgan Stanley reduced their price target on Foot Locker from $16.00 to $14.00 and set an “underweight” rating on the stock in a report on Tuesday, May 6th. Piper Sandler lowered their price target on Foot Locker from $19.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Finally, Robert W. Baird dropped their price objective on Foot Locker from $24.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Foot Locker presently has a consensus rating of “Hold” and a consensus target price of $21.19.

Foot Locker Trading Down 0.3%

Shares of FL stock opened at $23.84 on Thursday. The business has a 50-day moving average of $13.73 and a 200 day moving average of $18.62. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. Foot Locker has a 1-year low of $11.00 and a 1-year high of $33.94. The stock has a market capitalization of $2.27 billion, a PE ratio of -5.28, a P/E/G ratio of 0.53 and a beta of 1.42.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.13. Foot Locker had a positive return on equity of 2.91% and a negative net margin of 5.24%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The business’s revenue was down 5.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Foot Locker will post 1.23 earnings per share for the current year.

Institutional Trading of Foot Locker

A number of hedge funds and other institutional investors have recently modified their holdings of FL. Renaissance Technologies LLC bought a new stake in Foot Locker during the fourth quarter worth about $5,473,000. Allspring Global Investments Holdings LLC boosted its position in shares of Foot Locker by 88.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 5,323,597 shares of the athletic footwear retailer’s stock worth $115,365,000 after purchasing an additional 2,500,396 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Foot Locker by 198.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,876 shares of the athletic footwear retailer’s stock worth $63,000 after buying an additional 1,911 shares during the last quarter. Sei Investments Co. grew its stake in shares of Foot Locker by 140.8% in the fourth quarter. Sei Investments Co. now owns 412,988 shares of the athletic footwear retailer’s stock worth $8,987,000 after acquiring an additional 241,504 shares during the last quarter. Finally, Empowered Funds LLC increased its stake in Foot Locker by 8.0% during the 4th quarter. Empowered Funds LLC now owns 416,498 shares of the athletic footwear retailer’s stock valued at $9,063,000 after purchasing an additional 30,977 shares in the last quarter.

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.