Investment Analysts’ Recent Ratings Updates for Foot Locker (FL)

Foot Locker (NYSE: FL) recently received a number of ratings updates from brokerages and research firms:

  • 2/6/2019 – Foot Locker had its “hold” rating reaffirmed by analysts at Cowen Inc. They now have a $60.00 price target on the stock.
  • 2/4/2019 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $62.00 price target on the stock. According to Zacks, “Shares of Foot Locker have risen and outpaced the industry in a year's time. The company’s focus on development of supply chain, improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities bode well. The company also plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Such efforts would help attain long-term goals that include sales of $10 billion and net income margin of 8.5%. The company’s third-quarter fiscal 2018 results are the testimony of the same, wherein both the top and bottom lines beat estimates. Although sales fell marginally, earnings grew on a year-over-year basis. However, the comapny has been witnessing an increasing trend in SG&A expenses for quite some time now. Management expects SG&A to rise in the fourth quarter that may strain margins to an extent.”
  • 2/1/2019 – Foot Locker was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Foot Locker have outpaced the industry in a year's time. The company’s focus on development of supply chain, improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities bode well. The company also plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Such efforts would help attain long-term goals that include sales of $10 billion and net income margin of 8.5%. The company’s third-quarter fiscal 2018 results are the testimony of the same, wherein both the top and bottom lines beat estimates. Although sales fell marginally, earnings grew on a year-over-year basis. However, the comapny has been witnessing an increasing trend in SG&A expenses for quite some time now. Further, management expects SG&A to rise in the fourth quarter that may strain margins to an extent.”
  • 1/25/2019 – Foot Locker had its price target raised by analysts at Jefferies Financial Group Inc from $62.00 to $67.00. They now have a “buy” rating on the stock.
  • 1/23/2019 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $66.00 price target on the stock. According to Zacks, “Shares of Foot Locker have outpaced the industry in a year's time. The company’s focus on development of supply chain, improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities bode well. The company also plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Such efforts would help attain long-term goals that include sales of $10 billion and net income margin of 8.5%. The company’s third-quarter fiscal 2018 results are the testimony of the same, wherein both the top and bottom lines beat estimates. Although sales fell marginally, earnings grew on a year-over-year basis. However, the comapny has been witnessing an increasing trend in SG&A expenses for quite some time now. Further, management expects SG&A to rise in the fourth quarter that may strain margins to an extent.”
  • 1/15/2019 – Foot Locker was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Foot Locker have outpaced the industry in a year's time. The company’s focus on development of supply chain, improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities bode well. The company also plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Such efforts would help attain long-term goals that include sales of $10 billion and net income margin of 8.5%. The company’s third-quarter fiscal 2018 results are the testimony of the same, wherein both the top and bottom lines beat estimates. Although sales fell marginally, earnings grew on a year-over-year basis. However, the comapny has been witnessing an increasing trend in SG&A expenses for quite some time now. Further, management expects SG&A to rise in the fourth quarter that may strain margins to an extent.”
  • 1/9/2019 – Foot Locker was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating.
  • 12/31/2018 – Foot Locker had its “hold” rating reaffirmed by analysts at Zacks Investment Research. They now have a $55.00 price target on the stock. According to Zacks, “Shares of Foot Locker have surged and outpaced the industry so far in the year. The company’s focus on development of supply chain, improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities bode well. The company also plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Further, it is exploring off-mall retail format opportunities and executing shop-in-shop spaces in collaboration with vendors. Certainly, these efforts would help attain long-term goals that include sales of $10 billion and net income margin of 8.5%. The company’s third-quarter fiscal 2018 results are the testimony of the same, wherein both the top and bottom lines beat estimates. Although sales fell marginally, earnings grew on a year-over-year basis. However, higher SG&A expenses rate remains an overhang on margin.”
  • 12/21/2018 – Foot Locker was given a new $62.00 price target on by analysts at Jefferies Financial Group Inc. They now have a “buy” rating on the stock.
  • 12/19/2018 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $55.00 price target on the stock. According to Zacks, “Shares of Foot Locker have surged and outpaced the industry so far in the year. The company’s focus on development of supply chain, improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities bode well. The company also plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Further, it is exploring off-mall retail format opportunities and executing shop-in-shop spaces in collaboration with vendors. Certainly, these efforts would help attain long-term goals that include sales of $10 billion and net income margin of 8.5%. The company’s third-quarter fiscal 2018 results are the testimony of the same, wherein both the top and bottom lines beat estimates. Although sales fell marginally, earnings grew on a year-over-year basis. However, higher SG&A expenses rate remains an overhang on margin.”
  • 12/18/2018 – Foot Locker was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Foot Locker have surged and outpaced the industry so far in the year. The company’s focus on development of supply chain, improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities bode well. The company also plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Further, it is exploring off-mall retail format opportunities and executing shop-in-shop spaces in collaboration with vendors. Certainly, these efforts would help attain long-term goals that include sales of $10 billion and net income margin of 8.5%. The company’s third-quarter fiscal 2018 results are the testimony of the same, wherein both the top and bottom lines beat estimates. Although sales fell marginally, earnings grew on a year-over-year basis. However, higher SG&A expenses rate remains an overhang on margin.”

Shares of FL opened at $56.49 on Monday. Foot Locker, Inc. has a 52-week low of $38.17 and a 52-week high of $59.40. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.42. The firm has a market capitalization of $6.38 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.54 and a beta of 0.77.

Foot Locker (NYSE:FL) last issued its quarterly earnings results on Tuesday, November 20th. The athletic footwear retailer reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.03. Foot Locker had a return on equity of 21.01% and a net margin of 4.24%. The company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company posted $0.87 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts expect that Foot Locker, Inc. will post 4.51 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Friday, January 18th were paid a $0.345 dividend. The ex-dividend date of this dividend was Thursday, January 17th. This represents a $1.38 annualized dividend and a dividend yield of 2.44%. Foot Locker’s payout ratio is 33.58%.

In related news, VP John A. Maurer sold 2,041 shares of the business’s stock in a transaction on Friday, December 28th. The stock was sold at an average price of $52.00, for a total transaction of $106,132.00. Following the sale, the vice president now owns 18,540 shares in the company, valued at approximately $964,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew M. Mckenna sold 7,000 shares of the business’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $50.81, for a total value of $355,670.00. Following the sale, the director now owns 30,459 shares in the company, valued at approximately $1,547,621.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,082 shares of company stock worth $832,934. Corporate insiders own 2.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Lindbrook Capital LLC bought a new stake in shares of Foot Locker in the 4th quarter valued at about $38,000. Financial Gravity Companies Inc. bought a new stake in shares of Foot Locker in the 4th quarter valued at about $74,000. Quantamental Technologies LLC bought a new stake in shares of Foot Locker in the 4th quarter valued at about $79,000. First Mercantile Trust Co. grew its position in shares of Foot Locker by 20.7% in the 4th quarter. First Mercantile Trust Co. now owns 1,980 shares of the athletic footwear retailer’s stock valued at $105,000 after buying an additional 340 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Foot Locker in the 3rd quarter valued at about $124,000. Institutional investors and hedge funds own 97.86% of the company’s stock.

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep, and SIX:02.

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