Foot Locker (FL) – Analysts’ Recent Ratings Updates

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

  • 2/9/2018 – Foot Locker was upgraded by analysts at OTR Global to a “positive” rating.
  • 2/5/2018 – Foot Locker had its “outperform” rating reaffirmed by analysts at Wedbush.
  • 2/2/2018 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $57.00 price target on the stock. According to Zacks, “Investors gave thumbs up to Foot Locker’s third-quarter fiscal 2017 results, wherein both the top and bottom lines beat the consensus mark. This led the stock to take a huge leap and outpace the industry in three months. Clearly, the third-quarter results gave a fresh breath of life to the stock, which in the recent past had struggled on account of dismal performance in the preceding two quarters. However, analysts believe that the euphoria surrounding the stock may be short lived, as Foot Locker continues to register year-over-year decline in both sales and earnings per share. Management now expects comps to decline in the range of 2-4% in the final quarter with earnings per share projected to decrease in the band of 15-25%. Margins are also expected to remain under pressure. Nevertheless, the company is effectively managing inventory, investing in digital platforms, improving supply chain infrastructure and rationalizing store fleet.”
  • 2/2/2018 – Foot Locker was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 1/31/2018 – Foot Locker was upgraded by analysts at CIBC from a “market perform” rating to an “outperform” rating. They now have a $70.00 price target on the stock.
  • 1/31/2018 – Foot Locker was upgraded by analysts at Oppenheimer Holdings Inc. from a “market perform” rating to an “outperform” rating. They now have a $70.00 price target on the stock.
  • 1/30/2018 – Foot Locker had its price target raised by analysts at Barclays PLC from $55.00 to $60.00. They now have an “overweight” rating on the stock.
  • 1/25/2018 – Foot Locker is now covered by analysts at Pivotal Research. They set a “buy” rating and a $65.00 price target on the stock. They wrote, “We don’t believe that 12x is an inappropriate multiple, but when you apply it to our FY19 (tax adjusted) EPS estimate, we get a stock price of $65, which is ~25% upside from current levels. Also attractive is that, starting with 1Q18, FL will be lapping easier comparisons, and this accelerates with 2Q18. We strongly believe that the best time to buy retail stocks is when the comparisons get easier. That said, an easy comparison only gets a retailer so far; there still needs to be a catalyst for driving growth. For FL, the catalyst is lots of newness in the athletic footwear pipeline. Even more importantly, we like FL’s prospects of recapturing lost merchandise margin. All told, FL’s risk/reward looks favorable; hence our BUY rating.””
  • 1/25/2018 – Foot Locker had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $59.00 price target on the stock, up previously from $52.00.
  • 1/19/2018 – Foot Locker was given a new $67.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 1/19/2018 – Foot Locker was upgraded by analysts at Telsey Advisory Group from a “market perform” rating to an “outperform” rating. They now have a $56.00 price target on the stock, up previously from $44.00.
  • 1/16/2018 – Foot Locker was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Investors gave thumbs up to Foot Locker’s third-quarter fiscal 2017 results, wherein both the top and bottom lines beat the consensus mark. This led the stock to take a huge leap and outpace the industry in three months. Clearly, the third-quarter results gave a fresh breath of life to the stock, which in the recent past had struggled on account of dismal performance in the preceding two quarters. However, analysts believe that the euphoria surrounding the stock may be short lived, as Foot Locker continues to register year-over-year decline in both sales and earnings per share. Management now expects comps to decline in the range of 2-4% in the final quarter with earnings per share projected to decrease in the band of 15-25%. Margins are also expected to remain under pressure. Nevertheless, the company is effectively managing inventory, investing in digital platforms, improving supply chain infrastructure and rationalizing store fleet.”
  • 1/7/2018 – Foot Locker was given a new $67.00 price target on by analysts at Canaccord Genuity. They now have a “buy” rating on the stock.
  • 1/5/2018 – Foot Locker was upgraded by analysts at Buckingham Research from a “neutral” rating to a “buy” rating. They now have a $57.00 price target on the stock.
  • 1/3/2018 – Foot Locker had its “hold” rating reaffirmed by analysts at Robert W. Baird. They now have a $52.00 price target on the stock.
  • 12/26/2017 – Foot Locker was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $53.00 price target on the stock. According to Zacks, “Investors gave thumbs up to Foot Locker’s third-quarter fiscal 2017 results, wherein both the top and bottom lines beat the consensus mark. This led the stock to take a huge leap and outpace the industry in a month. Clearly, the third-quarter results gave a fresh breath of life to the stock, which in the recent past had struggled on account of dismal performance in the preceding two quarters. However, analysts believe that the euphoria surrounding the stock may be short lived, as Foot Locker continues to register year-over-year decline in both sales and earnings per share. Management now expects comps to decline in the range of 2-4% in the final quarter with earnings per share projected to decrease in the band of 15-25%. Margins are also expected to remain under pressure. Nevertheless, the company is effectively managing inventory, investing in digital platforms, improving supply chain infrastructure and rationalizing store fleet.”
  • 12/19/2017 – Foot Locker had its “buy” rating reaffirmed by analysts at Citigroup Inc. They now have a $54.00 price target on the stock.
  • 12/15/2017 – Foot Locker was upgraded by analysts at Canaccord Genuity from a “hold” rating to a “buy” rating. They now have a $64.00 price target on the stock, up previously from $42.00.

Shares of Foot Locker, Inc. (FL) opened at $46.24 on Monday. The company has a market cap of $5,604.52, a PE ratio of 11.62, a price-to-earnings-growth ratio of 2.15 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.41 and a quick ratio of 2.09. Foot Locker, Inc. has a 12-month low of $28.42 and a 12-month high of $77.86.

Foot Locker (NYSE:FL) last announced its quarterly earnings data on Friday, November 17th. The athletic footwear retailer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.82 billion. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 earnings per share. equities analysts forecast that Foot Locker, Inc. will post 4.1 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Shareholders of record on Friday, January 19th were given a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 2.68%. The ex-dividend date was Thursday, January 18th. Foot Locker’s dividend payout ratio is 31.16%.

In other Foot Locker news, Director Matthew M. Mckenna sold 10,899 shares of Foot Locker stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $45.82, for a total value of $499,392.18. Following the sale, the director now owns 35,000 shares of the company’s stock, valued at $1,603,700. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard A. Johnson sold 25,000 shares of Foot Locker stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $50.05, for a total transaction of $1,251,250.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,899 shares of company stock worth $2,801,692. Insiders own 1.73% of the company’s stock.

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.

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