Foot Locker's (FL) "Market Perform" Rating Reiterated at Telsey Advisory Group

Key Points

• Telsey Advisory Group has maintained a "Market Perform" rating for Foot Locker, setting a price target of $24.00, indicating a slight downside potential from the current stock price.
• Foot Locker reported a loss of ($0.27) EPS in its latest earnings, falling short of analysts' expectations of $0.05, with a quarterly revenue of $1.86 billion.
• The stock has seen various analysts adjust their ratings, with a consensus now at "Hold" and a target price of $21.33 amidst fluctuating performance expectations.

Foot Locker (NYSE:FL - Get Free Report)'s stock had its "market perform" rating reiterated by stock analysts at Telsey Advisory Group in a report released on Tuesday,Benzinga reports. They currently have a $24.00 price objective on the athletic footwear retailer's stock. Telsey Advisory Group's price objective would suggest a potential downside of 0.10% from the stock's current price.

A number of other brokerages also recently weighed in on FL. Wall Street Zen downgraded shares of Foot Locker to a "strong sell" rating in a research report on Saturday, August 30th. Citigroup boosted their price objective on shares of Foot Locker from $20.00 to $24.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Zacks Research raised shares of Foot Locker from a "strong sell" rating to a "hold" rating in a research report on Monday, August 18th. Needham & Company LLC reaffirmed a "hold" rating on shares of Foot Locker in a research report on Wednesday, August 27th. Finally, JPMorgan Chase & Co. raised shares of Foot Locker from an "underweight" rating to a "neutral" rating and boosted their price objective for the company from $16.00 to $24.00 in a research report on Thursday, May 15th. Two analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $21.33.

Foot Locker Stock Down 0.3%

Shares of FL traded down $0.08 during midday trading on Tuesday, hitting $24.03. The company had a trading volume of 8,308,221 shares, compared to its average volume of 5,609,406. The company's 50 day moving average price is $25.11 and its 200 day moving average price is $20.44. The stock has a market cap of $2.30 billion, a price-to-earnings ratio of -5.96, a PEG ratio of 2.17 and a beta of 1.79. Foot Locker has a 52 week low of $11.00 and a 52 week high of $29.24. 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 (NYSE:FL - Get Free Report) last released its earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.32). The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.87 billion. Foot Locker had a positive return on equity of 2.92% and a negative net margin of 4.90%.Foot Locker's revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. On average, equities research analysts predict that Foot Locker will post 1.23 EPS for the current year.

Insider Activity

In other Foot Locker news, CAO Giovanna Cipriano sold 22,383 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $24.90, for a total value 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. This represents a 19.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Franklin Bracken sold 14,922 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $24.50, for a total transaction of $365,589.00. Following the completion of the transaction, the president owned 213,496 shares of the company's stock, valued at approximately $5,230,652. This trade represents a 6.53% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its position 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 during the last quarter. Boussard & Gavaudan Investment Management LLP acquired a new stake in shares of Foot Locker in the 2nd quarter worth approximately $3,505,000. Hudson Bay Capital Management LP acquired a new stake in shares of Foot Locker in the 2nd quarter worth approximately $6,125,000. Public Sector Pension Investment Board lifted its stake in shares of Foot Locker by 8.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 283,482 shares of the athletic footwear retailer's stock worth $6,945,000 after acquiring an additional 21,723 shares during the period. Finally, State of Tennessee Department of Treasury lifted its stake in shares of Foot Locker by 43.1% in the 2nd quarter. State of Tennessee Department of Treasury now owns 28,640 shares of the athletic footwear retailer's stock worth $702,000 after acquiring an additional 8,625 shares during the period.

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.