Foot Locker (FL) PT Raised to $63.00

Foot Locker (NYSE:FL) had its price target upped by research analysts at Credit Suisse Group from $56.00 to $63.00 in a research note issued to investors on Wednesday. The brokerage presently has an “outperform” rating on the athletic footwear retailer’s stock. Credit Suisse Group’s price target suggests a potential upside of 18.96% from the stock’s current price.

FL has been the subject of several other research reports. Piper Jaffray Companies set a $51.00 target price on shares of Foot Locker and gave the company a “hold” rating in a report on Wednesday. Morgan Stanley began coverage on shares of Foot Locker in a report on Wednesday, August 1st. They issued an “underweight” rating and a $44.00 target price for the company. B. Riley set a $51.00 target price on shares of Foot Locker and gave the company a “neutral” rating in a report on Wednesday. Canaccord Genuity set a $64.00 price objective on shares of Foot Locker and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Co decreased their price objective on shares of Foot Locker from $57.00 to $50.00 and set a “hold” rating for the company in a report on Monday, August 27th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $58.91.

Shares of FL stock opened at $52.96 on Wednesday. The stock has a market capitalization of $6.08 billion, a PE ratio of 12.89, a PEG ratio of 1.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 1.76. Foot Locker has a one year low of $38.17 and a one year high of $59.40.

Foot Locker (NYSE:FL) last announced its earnings results on Tuesday, November 20th. The athletic footwear retailer reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.03. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. Foot Locker had a net margin of 4.24% and a return on equity of 21.01%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, equities research analysts anticipate that Foot Locker will post 4.5 earnings per share for the current fiscal year.

In other Foot Locker news, Director Matthew M. Mckenna sold 7,000 shares of the stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $50.81, for a total transaction of $355,670.00. Following the completion of the transaction, the director now owns 30,459 shares in the company, valued at $1,547,621.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

A number of large investors have recently modified their holdings of the business. CX Institutional boosted its position in Foot Locker by 4.4% during the third quarter. CX Institutional now owns 28,267 shares of the athletic footwear retailer’s stock worth $1,441,000 after purchasing an additional 1,195 shares during the period. Zacks Investment Management boosted its position in Foot Locker by 5.4% during the second quarter. Zacks Investment Management now owns 28,220 shares of the athletic footwear retailer’s stock worth $1,486,000 after purchasing an additional 1,440 shares during the period. Toronto Dominion Bank boosted its position in Foot Locker by 2.0% during the third quarter. Toronto Dominion Bank now owns 74,608 shares of the athletic footwear retailer’s stock worth $3,803,000 after purchasing an additional 1,459 shares during the period. NewFocus Financial Group LLC boosted its position in shares of Foot Locker by 4.6% in the second quarter. NewFocus Financial Group LLC now owns 34,755 shares of the athletic footwear retailer’s stock valued at $1,830,000 after acquiring an additional 1,516 shares during the period. Finally, Advisors Asset Management Inc. boosted its position in shares of Foot Locker by 61.6% in the second quarter. Advisors Asset Management Inc. now owns 4,176 shares of the athletic footwear retailer’s stock valued at $220,000 after acquiring an additional 1,592 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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