Foot Locker (FL) PT Set at $64.00 by Canaccord Genuity

Canaccord Genuity set a $64.00 price objective on Foot Locker (NYSE:FL) in a research report report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the athletic footwear retailer’s stock.

Several other analysts have also commented on FL. 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. B. Riley set a $51.00 price target on shares of Foot Locker and gave the company a neutral rating in a research report on Wednesday. Telsey Advisory Group reduced their price target on shares of Foot Locker from $62.00 to $58.00 and set an outperform rating on the stock in a research report on Monday, August 27th. Pivotal Research set a $64.00 price target on shares of Foot Locker and gave the company a buy rating in a research report on Monday, August 27th. Finally, 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $58.91.

FL opened at $52.96 on Wednesday. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 12.01, a price-to-earnings-growth ratio of 1.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.76 and a current ratio of 3.42. Foot Locker has a 1-year low of $38.17 and a 1-year high of $59.40.

Foot Locker (NYSE:FL) last released its quarterly 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 firm had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.86 billion. Foot Locker had a net margin of 4.24% and a return on equity of 21.01%. The business’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. Sell-side analysts forecast that Foot Locker will post 4.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 1st. Investors of record on Friday, January 18th will be issued a $0.345 dividend. The ex-dividend date is Thursday, January 17th. This represents a $1.38 annualized dividend and a yield of 2.61%. Foot Locker’s dividend payout ratio (DPR) is presently 33.58%.

In related news, Director Matthew M. Mckenna sold 7,000 shares of Foot Locker stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $50.81, for a total value of $355,670.00. Following the completion of the sale, the director now owns 30,459 shares in the company, valued at approximately $1,547,621.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.90% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Foot Locker by 0.7% in the third quarter. Vanguard Group Inc. now owns 12,178,329 shares of the athletic footwear retailer’s stock worth $620,851,000 after acquiring an additional 85,314 shares in the last quarter. BlackRock Inc. grew its stake in shares of Foot Locker by 0.3% in the third quarter. BlackRock Inc. now owns 6,900,629 shares of the athletic footwear retailer’s stock worth $351,793,000 after acquiring an additional 18,239 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Foot Locker by 140.8% in the third quarter. AQR Capital Management LLC now owns 5,694,180 shares of the athletic footwear retailer’s stock worth $290,289,000 after acquiring an additional 3,329,150 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Foot Locker by 2.8% in the third quarter. Bank of New York Mellon Corp now owns 5,248,477 shares of the athletic footwear retailer’s stock worth $267,569,000 after acquiring an additional 144,290 shares in the last quarter. Finally, Investec Asset Management LTD grew its stake in shares of Foot Locker by 2.1% in the second quarter. Investec Asset Management LTD now owns 3,287,156 shares of the athletic footwear retailer’s stock worth $173,069,000 after acquiring an additional 67,060 shares in the last quarter.

Foot Locker Company Profile

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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