Equities researchers at Gordon Haskett started coverage on shares of Foot Locker (NYSE:FL - Get Free Report) in a report released on Monday, Briefing.com reports. The brokerage set an "accumulate" rating and a $27.00 price target on the athletic footwear retailer's stock. Gordon Haskett's target price would suggest a potential upside of 11.99% from the stock's current price.
Other research analysts also recently issued reports about the company. Morgan Stanley downgraded Foot Locker from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $24.00 to $18.00 in a report on Thursday, July 18th. Piper Sandler reissued a "neutral" rating and issued a $30.00 price objective on shares of Foot Locker in a research report on Friday, August 23rd. Barclays raised Foot Locker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $27.00 to $34.00 in a research report on Thursday, August 29th. Robert W. Baird lowered their price objective on Foot Locker from $35.00 to $27.00 and set a "neutral" rating for the company in a research report on Wednesday, September 25th. Finally, Telsey Advisory Group reissued a "market perform" rating and issued a $27.00 price objective on shares of Foot Locker in a research report on Wednesday, August 28th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $25.94.
Read Our Latest Stock Analysis on FL
NYSE FL opened at $24.11 on Monday. The company has a quick ratio of 0.49, a current ratio of 1.66 and a debt-to-equity ratio of 0.15. Foot Locker has a twelve month low of $18.08 and a twelve month high of $35.60. The company has a market cap of $2.28 billion, a price-to-earnings ratio of -6.36, a price-to-earnings-growth ratio of 0.59 and a beta of 1.43. The business's fifty day moving average is $28.56 and its 200 day moving average is $25.72.
Foot Locker (NYSE:FL - Get Free Report) last announced its earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) EPS for the quarter, topping the consensus estimate 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 positive return on equity of 2.73% and a negative net margin of 4.48%. As a group, sell-side analysts expect that Foot Locker will post 1.51 EPS for the current fiscal year.
In other news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the transaction, the insider now directly owns 10,393,592 shares of the company's stock, valued at approximately $345,275,126.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 787,566 shares of company stock valued at $26,090,866 in the last ninety days. 1.20% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Foot Locker during the second quarter worth $31,000. Fifth Third Bancorp grew its position in shares of Foot Locker by 116.0% in the second quarter. Fifth Third Bancorp now owns 1,365 shares of the athletic footwear retailer's stock valued at $34,000 after purchasing an additional 733 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of Foot Locker by 156.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,616 shares of the athletic footwear retailer's stock valued at $40,000 after purchasing an additional 985 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Foot Locker in the second quarter valued at about $43,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Foot Locker in the second quarter valued at about $61,000.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Foot Locker, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Foot Locker wasn't on the list.
While Foot Locker currently has a "Reduce" rating among analysts, top-rated analysts believe these five stocks are better buys.