Foot Locker (NYSE:FL) Price Target Cut to $63.00

Foot Locker (NYSE:FL) had its target price cut by equities research analysts at Deutsche Bank from $68.00 to $63.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the athletic footwear retailer’s stock. Deutsche Bank’s price target would suggest a potential upside of 60.67% from the company’s current price.

A number of other brokerages have also issued reports on FL. TheStreet lowered shares of Foot Locker from a “b-” rating to a “c+” rating in a report on Monday, June 17th. Guggenheim reissued a “buy” rating and issued a $60.00 price objective on shares of Foot Locker in a report on Friday, May 24th. Pivotal Research reissued a “buy” rating and issued a $60.00 price objective on shares of Foot Locker in a report on Tuesday, May 28th. Canaccord Genuity dropped their price objective on shares of Foot Locker from $82.00 to $81.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, B. Riley dropped their price objective on shares of Foot Locker from $73.00 to $62.00 and set a “buy” rating for the company in a report on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. Foot Locker presently has a consensus rating of “Buy” and a consensus price target of $66.44.

Foot Locker stock opened at $39.21 on Monday. Foot Locker has a 52-week low of $36.81 and a 52-week high of $68.00. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 0.78 and a beta of 0.98. The company has a fifty day simple moving average of $41.00 and a 200-day simple moving average of $51.26. The company has a quick ratio of 1.07, a current ratio of 2.01 and a debt-to-equity ratio of 1.12.

Foot Locker (NYSE:FL) last released its earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.08). Foot Locker had a return on equity of 21.75% and a net margin of 6.86%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the company earned $1.45 EPS. Foot Locker’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, research analysts anticipate that Foot Locker will post 5.02 EPS for the current fiscal year.

In other Foot Locker news, Director Matthew M. Mckenna sold 7,000 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $40.53, for a total value of $283,710.00. Following the transaction, the director now owns 26,862 shares of the company’s stock, valued at $1,088,716.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bremer Bank National Association acquired a new position in Foot Locker in the first quarter valued at about $26,000. CWM LLC lifted its position in Foot Locker by 264.1% in the first quarter. CWM LLC now owns 477 shares of the athletic footwear retailer’s stock valued at $29,000 after buying an additional 346 shares during the last quarter. Investors Research Corp acquired a new position in Foot Locker in the first quarter valued at about $30,000. Mckinley Capital Management LLC Delaware acquired a new position in Foot Locker in the first quarter valued at about $33,000. Finally, Thor Advisors LLC acquired a new position in Foot Locker in the first quarter valued at about $37,000. 99.61% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Foot Locker (NYSE:FL)

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