Several brokerages have updated their recommendations and price targets on shares of Foot Locker (NYSE: FL) in the last few weeks:

  • 3/20/2017 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $85.00 price target on the stock. According to Zacks, “Foot Locker has outperformed the Zacks categorized industry in the past one year by a wide margin. Sturdy comparable sales performance, cost containment efforts and strategic initiatives have helped the company to post third straight quarter of positive earnings surprise, when it reported fourth-quarter fiscal 2016 results. The company also registered year-over-year growth in both the top and bottom lines. Management now projects mid-single-digit increase in comparable sales in fiscal 2017. Further, it envisions double-digit growth in earnings per share for the fiscal year. We believe that continuous exploitation of opportunities such as children’s business, shop-in-shop expansion, store banner.com business, store refurbishment and enhancement of assortments, will benefit the company in the long run. However, a competitive retail landscape, fashion obsolescence and foreign currency headwinds remain concerns.”
  • 3/2/2017 – Foot Locker was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Foot Locker has outperformed the Zacks categorized industry in the past one year by a wide margin. Sturdy comparable sales performance, cost containment efforts and strategic initiatives have helped the company to post third straight quarter of positive earnings surprise, when it reported fourth-quarter fiscal 2016 results. The company also registered year-over-year growth in both the top and bottom lines. Management now projects mid-single-digit increase in comparable sales in fiscal 2017. Further, it envisions double-digit growth in earnings per share for the fiscal year. We believe that continuous exploitation of opportunities such as children’s business, shop-in-shop expansion, store banner.com business, store refurbishment and enhancement of assortments, will benefit the company in the long run. However, a competitive retail landscape, fashion obsolescence and foreign currency headwinds remain concerns.”
  • 3/1/2017 – Foot Locker had its “hold” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $77.00 price target on the stock.
  • 3/1/2017 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $85.00 price target on the stock. According to Zacks, “Foot Locker has outperformed the Zacks categorized industry in the past one year by a wide margin. Sturdy comparable sales performance, cost containment efforts and strategic initiatives have helped the company to post third straight quarter of positive earnings surprise, when it reported fourth-quarter fiscal 2016 results. The company also registered year-over-year growth in both the top and bottom lines. Management now projects mid-single-digit increase in comparable sales in fiscal 2017. Further, it envisions double-digit growth in earnings per share for the fiscal year. We believe that continuous exploitation of opportunities such as children’s business, shop-in-shop expansion, store banner.com business, store refurbishment and enhancement of assortments, will benefit the company in the long run. However, a competitive retail landscape, fashion obsolescence and foreign currency headwinds remain concerns.”
  • 2/27/2017 – Foot Locker had its price target raised by analysts at Wedbush from $81.00 to $84.00. They now have an “outperform” rating on the stock.
  • 2/27/2017 – Foot Locker had its price target raised by analysts at Canaccord Genuity from $83.00 to $87.00. They now have a “buy” rating on the stock.
  • 2/27/2017 – Foot Locker was given a new $76.00 price target on by analysts at FBR & Co. They now have a “hold” rating on the stock.
  • 2/26/2017 – Foot Locker had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $79.00 price target on the stock.
  • 2/24/2017 – Foot Locker was given a new $76.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 2/24/2017 – Foot Locker was given a new $90.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 2/22/2017 – Foot Locker had its “buy” rating reaffirmed by analysts at Brean Capital. They now have a $78.00 price target on the stock, up previously from $77.00.
  • 2/22/2017 – Foot Locker had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $81.00 price target on the stock, up previously from $76.00.
  • 2/22/2017 – Foot Locker had its price target raised by analysts at Canaccord Genuity from $83.00 to $87.00. They now have a “buy” rating on the stock.
  • 2/21/2017 – Foot Locker had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $79.00 price target on the stock.
  • 2/15/2017 – Foot Locker was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Fashion obsolescence, foreign currency headwinds, a competitive retail landscape, and cautious consumer spending continue to pose concern for Foot Locker. Moreover, we noticed that the Zacks Consensus Estimate has witnessed a downtrend ahead of the company’s fourth-quarter fiscal 2016 earnings release in the past 30 days. Although the stock has outpaced the industry in the past three months, it is likely to reverse the trend. Nevertheless, we believe continuous exploitation of opportunities such as children’s business, shop-in-shop expansion, store banner.com business, store refurbishment and enhancement of assortments, will benefit the company in the long run. Management had earlier reaffirmed its projection of a mid-single-digit increase in comparable sales in fiscal 2016. Further, it continues to expect double-digit growth in earnings per share for the fiscal year.”
  • 2/8/2017 – Foot Locker was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Foot Locker has outperformed the Zacks categorized industry in the past six months by a wide range. Sturdy comparable sales performance, cost containment efforts and strategic initiatives helped the company to post second straight quarter of positive earnings surprise, when it reported third-quarter fiscal 2016 results. The company also registered year-over-year growth in both the top and bottom lines. Management reaffirmed its projection of a mid-single-digit increase in comparable sales in fiscal 2016. Further, it continues to expect double-digit growth in earnings per share for the fiscal year. We believe that continuous exploitation of opportunities such as children’s business, shop-in-shop expansion, store banner.com business, store refurbishment and enhancement of assortments, will benefit the company in the long run. However, a competitive retail landscape, fashion obsolescence and foreign currency headwinds remain concerns.”
  • 2/2/2017 – Foot Locker was upgraded by analysts at Guggenheim from a “neutral” rating to a “buy” rating. They now have a $85.00 price target on the stock.
  • 1/24/2017 – Foot Locker had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $80.00 price target on the stock.
  • 1/23/2017 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $77.00 price target on the stock. According to Zacks, “Foot Locker has outperformed the Zacks categorized industry in the past six months by a wide range. Sturdy comparable sales performance, cost containment efforts and strategic initiatives helped the company to post second straight quarter of positive earnings surprise, when it reported third-quarter fiscal 2016 results. The company also registered year-over-year growth in both the top and bottom lines. Management reaffirmed its projection of a mid-single-digit increase in comparable sales in fiscal 2016. Further, it continues to expect double-digit growth in earnings per share for the fiscal year. We believe that continuous exploitation of opportunities such as children’s business, shop-in-shop expansion, store banner.com business, store refurbishment and enhancement of assortments, will benefit the company in the long run. However, a competitive retail landscape, fashion obsolescence and foreign currency headwinds remain concerns.”
  • 1/23/2017 – Foot Locker had its “buy” rating reaffirmed by analysts at Canaccord Genuity. They now have a $83.00 price target on the stock.

Foot Locker, Inc. (NYSE:FL) opened at 73.98 on Tuesday. Foot Locker, Inc. has a one year low of $50.90 and a one year high of $79.43. The company has a market capitalization of $9.86 billion, a P/E ratio of 15.07 and a beta of 0.57. The firm has a 50-day moving average of $72.64 and a 200 day moving average of $70.59.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, February 24th. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.05. Foot Locker had a net margin of 8.26% and a return on equity of 24.22%. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the company earned $1.16 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that Foot Locker, Inc. will post $5.42 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Thursday, April 13th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 1.68%. This is a boost from Foot Locker’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, April 11th. Foot Locker’s payout ratio is presently 23.71%.

In other news, CFO Lauren B. Peters sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $77.51, for a total transaction of $1,937,750.00. Following the completion of the transaction, the chief financial officer now directly owns 144,597 shares of the company’s stock, valued at $11,207,713.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Cheryl N. Turpin sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $76.17, for a total transaction of $152,340.00. The disclosure for this sale can be found here. 2.92% of the stock is owned by insiders.

Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep.

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