Foot Locker Given New $59.00 Price Target at Canaccord Genuity (FL)
Equities researchers at Canaccord Genuity boosted their target price on shares of Foot Locker (NYSE:FL) from $56.00 to $59.00 in a research report issued on Monday. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would suggest a potential upside of 9.02% from the company’s current price.
In other Foot Locker news, CFO Lauren B. Peters unloaded 40,000 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $52.00, for a total transaction of $2,080,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Foot Locker (NYSE:FL) traded up 0.46% during mid-day trading on Monday, hitting $54.37. 156,658 shares of the company’s stock traded hands. Foot Locker has a 52 week low of $31.91 and a 52 week high of $55.33. The stock’s 50-day moving average is $49.65 and its 200-day moving average is $46.92. The company has a market cap of $7.867 billion and a P/E ratio of 17.80. Foot Locker also saw some unusual options trading on Friday. Investors purchased 6,767 call options on the company. This is an increase of 517% compared to the typical volume of 1,096 call options.
Foot Locker (NYSE:FL) last announced its earnings results on Friday, August 22nd. The company reported $0.64 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.10. The company had revenue of $1.64 billion for the quarter. During the same quarter last year, the company posted $0.46 earnings per share. Foot Locker’s revenue was up 12.9% compared to the same quarter last year. On average, analysts predict that Foot Locker will post $3.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Friday, October 17th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Wednesday, October 15th.
A number of other firms have also recently commented on FL. Analysts at Piper Jaffray downgraded shares of Foot Locker from an “overweight” rating to a “neutral” rating in a research note on Monday. They now have a $57.00 price target on the stock, up previously from $54.00. They noted that the move was a valuation call. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Foot Locker in a research note on Wednesday, August 20th. They now have a $55.00 price target on the stock, up previously from $53.00. Finally, analysts at Buckingham Research initiated coverage on shares of Foot Locker in a research note on Wednesday, June 25th. They set a “buy” rating and a $58.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.73.
Foot Locker, Inc is a global retailer of shoes and apparel, operating 3,473 primarily mall-based stores in the United States, Canada, Europe, Australia and New Zealand as of February 1, 2014.
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