Telsey Advisory Group Reaffirms "Market Perform" Rating for Foot Locker (NYSE:FL)

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 reaffirmed by stock analysts at Telsey Advisory Group in a note issued to investors on Tuesday,Benzinga reports. They presently have a $24.00 price target on the athletic footwear retailer's stock. Telsey Advisory Group's target price indicates a potential downside of 0.10% from the stock's current price.

A number of other analysts have also commented on the company. Barclays lowered Foot Locker from an "overweight" rating to an "equal weight" rating in a research report on Thursday, May 29th. Citigroup increased their target price on Foot Locker from $20.00 to $24.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Zacks Research upgraded shares of Foot Locker from a "strong sell" rating to a "hold" rating in a research note on Monday, August 18th. Wall Street Zen lowered shares of Foot Locker to a "strong sell" rating in a research note on Saturday, August 30th. Finally, JPMorgan Chase & Co. raised shares of Foot Locker from an "underweight" rating to a "neutral" rating and raised their price target 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 issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $21.33.

Foot Locker Price Performance

Foot Locker stock opened at $24.03 on Tuesday. The stock's 50 day moving average price is $25.17 and its two-hundred day moving average price is $20.28. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -5.96, a PEG ratio of 2.17 and a beta of 1.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.45 and a current ratio of 1.59. Foot Locker has a 52-week low of $11.00 and a 52-week high of $29.24.

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 (EPS) 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 company had revenue of $1.86 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the firm earned ($0.05) EPS. The firm's revenue was down 2.3% on a year-over-year basis. On average, equities analysts predict that Foot Locker will post 1.23 earnings per share for the current year.

Insider Buying and Selling

In other Foot Locker news, 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 approximately $5,230,652. The trade was a 6.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $557,336.70. Following the completion of the transaction, the chief accounting officer owned 93,895 shares of the company's stock, valued at $2,337,985.50. This trade represents a 19.25% decrease in their position. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Foot Locker

Several institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its holdings in Foot Locker by 4.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,174,832 shares of the athletic footwear retailer's stock worth $44,765,000 after buying an additional 136,836 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Foot Locker by 20.2% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 2,290,707 shares of the athletic footwear retailer's stock valued at $32,299,000 after acquiring an additional 384,301 shares during the period. American Century Companies Inc. increased its stake in shares of Foot Locker by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 2,022,158 shares of the athletic footwear retailer's stock worth $49,543,000 after purchasing an additional 81,630 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Foot Locker by 1.8% in the 2nd quarter. Geode Capital Management LLC now owns 1,995,504 shares of the athletic footwear retailer's stock worth $48,896,000 after purchasing an additional 35,966 shares during the period. Finally, Cramer Rosenthal Mcglynn LLC lifted its stake in Foot Locker by 8.5% in the first quarter. Cramer Rosenthal Mcglynn LLC now owns 1,736,845 shares of the athletic footwear retailer's stock valued at $24,490,000 after purchasing an additional 135,982 shares during 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.

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