Wedbush Reiterates “Outperform” Rating for Foot Locker (FL)

Foot Locker (NYSE:FL)‘s stock had its “outperform” rating reissued by analysts at Wedbush in a research note issued on Thursday. They currently have a $59.00 target price on the athletic footwear retailer’s stock, up from their prior target price of $52.00. Wedbush’s price target would indicate a potential upside of 14.36% from the company’s previous close. Wedbush also issued estimates for Foot Locker’s FY2019 earnings at $4.40 EPS.

FL has been the subject of a number of other research reports. Jefferies Group set a $61.00 target price on shares of Foot Locker and gave the stock a “buy” rating in a research report on Friday, November 17th. Canaccord Genuity set a $67.00 price objective on shares of Foot Locker and gave the company a “buy” rating in a research report on Sunday, January 7th. Telsey Advisory Group upgraded shares of Foot Locker from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $44.00 to $56.00 in a research report on Friday, January 19th. Zacks Investment Research lowered shares of Foot Locker from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Finally, ValuEngine upgraded shares of Foot Locker from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $55.62.

Shares of Foot Locker (FL) traded down $0.85 during trading hours on Thursday, hitting $51.59. 3,330,000 shares of the company were exchanged, compared to its average volume of 3,480,000. The company has a current ratio of 4.41, a quick ratio of 2.09 and a debt-to-equity ratio of 0.05. Foot Locker has a 12-month low of $28.42 and a 12-month high of $77.86. The company has a market capitalization of $6,250.00, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82.

Foot Locker (NYSE:FL) last issued its earnings results on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. Foot Locker’s revenue for the quarter was down .8% on a year-over-year basis. equities research analysts anticipate that Foot Locker will post 4.09 EPS for the current year.

In other news, SVP Giovanna Cipriano sold 21,000 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $50.05, for a total value of $1,051,050.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Matthew M. Mckenna sold 10,899 shares of the stock in a transaction on Tuesday, January 9th. The shares were sold at an average price of $45.82, for a total transaction of $499,392.18. Following the completion of the sale, the director now directly owns 35,000 shares in the company, valued at approximately $1,603,700. The disclosure for this sale can be found here. In the last three months, insiders sold 56,899 shares of company stock worth $2,801,692. Insiders own 2.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of FL. Franklin Resources Inc. increased its stake in Foot Locker by 53.7% in the 2nd quarter. Franklin Resources Inc. now owns 19,035 shares of the athletic footwear retailer’s stock worth $938,000 after buying an additional 6,651 shares during the period. Profund Advisors LLC increased its stake in Foot Locker by 23.0% in the 2nd quarter. Profund Advisors LLC now owns 4,801 shares of the athletic footwear retailer’s stock worth $237,000 after buying an additional 897 shares during the period. Thrivent Financial For Lutherans increased its stake in Foot Locker by 2.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 5,010 shares of the athletic footwear retailer’s stock worth $247,000 after buying an additional 120 shares during the period. D.A. Davidson & CO. increased its stake in Foot Locker by 50.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock worth $105,000 after buying an additional 714 shares during the period. Finally, Vanguard Group Inc. increased its stake in Foot Locker by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 13,187,732 shares of the athletic footwear retailer’s stock worth $649,891,000 after buying an additional 201,518 shares during the period. 90.27% of the stock is currently owned by institutional investors.

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Foot Locker Company Profile

Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.

Analyst Recommendations for Foot Locker (NYSE:FL)

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