Foot Locker, Inc. (NYSE:FL) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Foot Locker, Inc. has received an average consensus rating of "Hold" from 16 research firms, with two analysts assigning a sell rating, twelve a hold rating, and two a buy rating.
• The stock price target among analysts is approximately $21.33, with recent adjustments including Citigroup raising its price objective from $20.00 to $24.00.
• For the latest quarter, Foot Locker reported a loss of ($0.27) earnings per share, missing estimates and showing a 2.3% decline in revenue compared to the previous year.

Shares of Foot Locker, Inc. (NYSE:FL - Get Free Report) have been given an average rating of "Hold" by the sixteen research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $21.3333.

A number of brokerages recently commented on FL. Citigroup upped their price objective on Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Needham & Company LLC restated a "hold" rating on shares of Foot Locker in a research note on Wednesday, August 27th. Wall Street Zen downgraded Foot Locker to a "strong sell" rating in a research note on Saturday, August 30th. Telsey Advisory Group restated a "market perform" rating and set a $24.00 price objective on shares of Foot Locker in a research note on Wednesday, August 27th. Finally, Zacks Research upgraded Foot Locker from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th.

Foot Locker Price Performance

FL stock opened at $24.15 on Friday. The company has a quick ratio of 0.45, a current ratio of 1.59 and a debt-to-equity ratio of 0.17. Foot Locker has a 52-week low of $11.00 and a 52-week high of $29.24. The stock's 50 day moving average is $25.19 and its two-hundred day moving average is $20.19. The company has a market capitalization of $2.31 billion, a PE ratio of -5.99, a P/E/G ratio of 2.18 and a beta of 1.79.

Foot Locker (NYSE:FL - Get Free Report) last issued its quarterly earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.32). Foot Locker had a negative net margin of 4.90% and a positive return on equity of 2.92%. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm posted ($0.05) earnings per share. Foot Locker's revenue was down 2.3% compared to the same quarter last year. Analysts predict that Foot Locker will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total transaction of $557,336.70. Following the completion of the transaction, the chief accounting officer owned 93,895 shares in the company, valued at approximately $2,337,985.50. The trade was a 19.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Franklin Bracken sold 14,922 shares of the business's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $24.50, for a total value of $365,589.00. Following the transaction, the president owned 213,496 shares of the company's stock, valued at $5,230,652. This trade represents a 6.53% decrease in their position. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FL. Maryland State Retirement & Pension System increased its stake in Foot Locker by 1.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 24,433 shares of the athletic footwear retailer's stock worth $599,000 after purchasing an additional 447 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in Foot Locker by 0.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 61,293 shares of the athletic footwear retailer's stock worth $1,502,000 after purchasing an additional 496 shares in the last quarter. Choreo LLC increased its stake in Foot Locker by 3.4% in the 2nd quarter. Choreo LLC now owns 20,720 shares of the athletic footwear retailer's stock worth $508,000 after purchasing an additional 690 shares in the last quarter. Signaturefd LLC increased its stake in Foot Locker by 27.2% in the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer's stock worth $65,000 after purchasing an additional 980 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Foot Locker by 4.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 31,573 shares of the athletic footwear retailer's stock worth $774,000 after purchasing an additional 1,255 shares in the last quarter.

Foot Locker Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.