Zacks Investment Research upgraded shares of Foot Locker (NYSE:FL) from a hold rating to a buy rating in a report published on Tuesday, December 26th. The firm currently has $53.00 price target on the athletic footwear retailer’s stock.
According to Zacks, “Investors gave thumbs up to Foot Locker’s third-quarter fiscal 2017 results, wherein both the top and bottom lines beat the consensus mark. This led the stock to take a huge leap and outpace the industry in a month. Clearly, the third-quarter results gave a fresh breath of life to the stock, which in the recent past had struggled on account of dismal performance in the preceding two quarters. However, analysts believe that the euphoria surrounding the stock may be short lived, as Foot Locker continues to register year-over-year decline in both sales and earnings per share. Management now expects comps to decline in the range of 2-4% in the final quarter with earnings per share projected to decrease in the band of 15-25%. Margins are also expected to remain under pressure. Nevertheless, the company is effectively managing inventory, investing in digital platforms, improving supply chain infrastructure and rationalizing store fleet.”
Other equities analysts have also issued reports about the stock. B. Riley restated a neutral rating on shares of Foot Locker in a research report on Wednesday, November 1st. Telsey Advisory Group lowered their target price on shares of Foot Locker from $36.00 to $34.00 and set a market perform rating on the stock in a research report on Monday, November 13th. Canaccord Genuity restated a hold rating and set a $39.00 target price on shares of Foot Locker in a research report on Friday, October 20th. Citigroup raised their target price on shares of Foot Locker from $40.00 to $47.00 and gave the stock a buy rating in a research report on Monday, November 20th. Finally, Wedbush restated an outperform rating and set a $39.00 target price (down from $46.00) on shares of Foot Locker in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $53.82.
Foot Locker (NYSE FL) opened at $47.45 on Tuesday. The company has a market cap of $5,750.00, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 2.27 and a beta of 0.82. Foot Locker has a one year low of $28.42 and a one year high of $77.86. The company has a quick ratio of 2.09, a current ratio of 4.41 and a debt-to-equity ratio of 0.05.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.82 billion. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted $1.13 earnings per share. equities research analysts anticipate that Foot Locker will post 4.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, January 19th will be given a $0.31 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $1.24 dividend on an annualized basis and a yield of 2.61%. Foot Locker’s dividend payout ratio (DPR) is 31.23%.
In other Foot Locker news, Director Matthew M. Mckenna sold 10,899 shares of the firm’s stock in a transaction on Tuesday, January 9th. The stock was sold at an average price of $45.82, for a total value of $499,392.18. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,603,700. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.90% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. D.A. Davidson & CO. lifted its holdings in Foot Locker by 50.3% in the second quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock valued at $105,000 after acquiring an additional 714 shares during the period. Penserra Capital Management LLC raised its stake in shares of Foot Locker by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer’s stock worth $148,000 after buying an additional 348 shares during the last quarter. Smithfield Trust Co. raised its stake in shares of Foot Locker by 276.2% during the 3rd quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock worth $113,000 after buying an additional 2,348 shares during the last quarter. Assetmark Inc. raised its stake in shares of Foot Locker by 205.0% during the 3rd quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after buying an additional 2,577 shares during the last quarter. Finally, Pacer Advisors Inc. raised its stake in shares of Foot Locker by 49.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,935 shares of the athletic footwear retailer’s stock worth $194,000 after buying an additional 1,305 shares during the last quarter. 89.85% of the stock is owned by institutional investors.
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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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