Telsey Advisory Group Raises Foot Locker Price Target to $61.00 (FL)
Investment analysts at Telsey Advisory Group increased their price objective on shares of Foot Locker (NYSE:FL) from $52.00 to $61.00 in a note issued to investors on Monday. The firm currently has a “not rated” rating on the stock. Telsey Advisory Group’s target price suggests a potential upside of 12.71% from the company’s current price.
Shares of Foot Locker (NYSE:FL) traded up 0.79% during mid-day trading on Monday, hitting $54.55. The stock had a trading volume of 801,132 shares. Foot Locker has a 1-year low of $31.91 and a 1-year high of $55.33. The stock has a 50-day moving average of $49.65 and a 200-day moving average of $46.92. The company has a market cap of $7.893 billion and a price-to-earnings ratio of 17.80. Foot Locker also was the target of unusually large options trading activity on Friday. Investors bought 6,767 call options on the company. This represents an increase of 517% compared to the average daily volume of 1,096 call options.
Foot Locker (NYSE:FL) last posted its quarterly 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. Investors 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.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity raised their price target on shares of Foot Locker from $56.00 to $59.00 in a research note on Monday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $54.64.
In other Foot Locker news, CFO Lauren B. Peters sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $52.00, for a total transaction of $2,080,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
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.