Foot Locker, Inc. (NYSE:FL) Given Average Recommendation of "Hold" by Analysts

Key Points

• Foot Locker, Inc. has received a consensus recommendation of "Hold" from analysts, with a price target of $21.20 for the next year.
• Recent insider activity includes CAO Giovanna Cipriano selling 22,383 shares at an average price of $24.90, reducing her ownership by 19.25%.
• The company's latest earnings report showed a loss of ($0.07) EPS, matching analyst expectations, but a 4.6% decline in revenue year-over-year.

Shares of Foot Locker, Inc. (NYSE:FL - Get Free Report) have been given a consensus recommendation of "Hold" by the fifteen brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $21.20.

A number of research firms have recently commented on FL. Citigroup upped their price objective on shares of Foot Locker from $20.00 to $24.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Gordon Haskett lowered shares of Foot Locker from a "moderate buy" rating to a "hold" rating in a research note on Thursday, May 15th. Telsey Advisory Group reaffirmed a "market perform" rating and issued a $24.00 price objective on shares of Foot Locker in a research note on Friday, May 30th. The Goldman Sachs Group reduced their price objective on shares of Foot Locker from $19.00 to $17.00 and set a "sell" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised shares of Foot Locker from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $16.00 to $24.00 in a research note on Thursday, May 15th.

Insiders Place Their Bets

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total transaction of $557,336.70. Following the transaction, the chief accounting officer owned 93,895 shares in the company, valued at approximately $2,337,985.50. This represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Maryland State Retirement & Pension System raised its holdings in Foot Locker by 1.9% during the second quarter. Maryland State Retirement & Pension System now owns 24,433 shares of the athletic footwear retailer's stock worth $599,000 after buying an additional 447 shares during the last quarter. Summit Investment Advisors Inc. lifted its position in shares of Foot Locker by 6.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer's stock valued at $190,000 after purchasing an additional 562 shares in the last quarter. Signaturefd LLC lifted its position in shares of Foot Locker by 27.2% during the first quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock valued at $65,000 after purchasing an additional 980 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Foot Locker by 4.1% during the second quarter. Nisa Investment Advisors LLC now owns 31,573 shares of the athletic footwear retailer's stock valued at $774,000 after purchasing an additional 1,255 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Foot Locker by 8.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,345 shares of the athletic footwear retailer's stock valued at $523,000 after purchasing an additional 1,589 shares in the last quarter.

Foot Locker Trading Down 1.8%

Shares of NYSE FL opened at $24.61 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.49 and a current ratio of 1.64. Foot Locker has a 52-week low of $11.00 and a 52-week high of $33.94. The firm has a 50 day moving average price of $24.64 and a two-hundred day moving average price of $19.42. The stock has a market cap of $2.35 billion, a P/E ratio of -6.53, a price-to-earnings-growth ratio of 2.06 and a beta of 1.75.

Foot Locker (NYSE:FL - Get Free Report) last posted its quarterly earnings data on Thursday, May 29th. The athletic footwear retailer reported ($0.07) EPS for the quarter, meeting analysts' consensus estimates of ($0.07). Foot Locker had a negative net margin of 4.54% and a positive return on equity of 3.65%. The company had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same period in the prior year, the firm posted $0.22 EPS. The company's quarterly revenue was down 4.6% on a year-over-year basis. As a group, equities analysts forecast that Foot Locker will post 1.23 EPS for the current year.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.

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