Foot Locker (FL) Given a $64.00 Price Target by Wells Fargo & Co Analysts

Foot Locker (NYSE:FL) has been assigned a $64.00 target price by investment analysts at Wells Fargo & Co in a research note issued on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the athletic footwear retailer’s stock. Wells Fargo & Co’s target price points to a potential upside of 20.85% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Telsey Advisory Group increased their price target on Foot Locker from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 21st. Piper Jaffray Companies set a $51.00 price target on Foot Locker and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Pivotal Research reaffirmed a “buy” rating and set a $64.00 price target on shares of Foot Locker in a research report on Monday, November 19th. Zacks Investment Research reaffirmed a “buy” rating and set a $52.00 price target on shares of Foot Locker in a research report on Tuesday, November 13th. Finally, Cowen increased their price target on Foot Locker from $46.00 to $56.00 and gave the stock a “market perform” rating in a research report on Monday, November 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $58.91.

Shares of FL opened at $52.96 on Wednesday. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.64 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.54 and a current ratio of 3.42. Foot Locker has a fifty-two week low of $38.17 and a fifty-two week high of $59.40.

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

In related news, Director Matthew M. Mckenna sold 7,000 shares of the firm’s stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $50.81, for a total value of $355,670.00. Following the transaction, the director now directly owns 30,459 shares of the company’s stock, valued at approximately $1,547,621.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in Foot Locker by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 12,178,329 shares of the athletic footwear retailer’s stock worth $620,851,000 after purchasing an additional 85,314 shares in the last quarter. Kepos Capital LP purchased a new position in Foot Locker in the 3rd quarter worth approximately $3,953,000. B. Riley Wealth Management Inc. purchased a new position in Foot Locker in the 3rd quarter worth approximately $1,079,000. Neuberger Berman Group LLC purchased a new stake in shares of Foot Locker during the 3rd quarter valued at approximately $37,272,000. Finally, AQR Capital Management LLC raised its position in shares of Foot Locker by 140.8% during the 3rd quarter. AQR Capital Management LLC now owns 5,694,180 shares of the athletic footwear retailer’s stock valued at $290,289,000 after buying an additional 3,329,150 shares during the period.

About Foot Locker

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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