Foot Locker (NYSE:FL) Price Target Raised to $38.00

Foot Locker (NYSE:FL) had its price target increased by Evercore ISI from $34.00 to $38.00 in a research note issued to investors on Monday, Benzinga reports. They currently have an outperform rating on the athletic footwear retailer’s stock.

FL has been the topic of several other research reports. Telsey Advisory Group reissued a market perform rating and set a $27.00 price target on shares of Foot Locker in a research report on Wednesday, August 21st. Barclays boosted their price target on shares of Foot Locker from $22.00 to $27.00 and gave the company an equal weight rating in a research report on Friday, May 31st. StockNews.com cut shares of Foot Locker from a hold rating to a sell rating in a research report on Wednesday, June 19th. Piper Sandler reissued a neutral rating and set a $30.00 price target on shares of Foot Locker in a research report on Friday, August 23rd. Finally, Citigroup boosted their price objective on shares of Foot Locker from $27.00 to $33.00 and gave the company a neutral rating in a report on Tuesday, August 20th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $26.40.

Foot Locker Trading Up 6.3 %

Shares of FL opened at $31.30 on Monday. Foot Locker has a 52-week low of $16.68 and a 52-week high of $35.60. The company has a quick ratio of 0.50, a current ratio of 1.68 and a debt-to-equity ratio of 0.15. The firm’s fifty day moving average is $27.59 and its two-hundred day moving average is $26.22. The stock has a market cap of $2.96 billion, a PE ratio of -8.26, a price-to-earnings-growth ratio of 0.80 and a beta of 1.46.

Foot Locker (NYSE:FL) last announced its quarterly earnings results on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Foot Locker had a negative net margin of 4.41% and a positive return on equity of 2.91%. Research analysts forecast that Foot Locker will post 1.51 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Foot Locker news, major shareholder Vesa Equity Investment S.A R.L sold 246,886 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $32.93, for a total transaction of $8,129,955.98. Following the sale, the insider now directly owns 11,146,292 shares in the company, valued at $367,047,395.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 787,566 shares of company stock worth $26,090,866 over the last three months. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

Institutional investors and hedge funds have recently bought and sold shares of the business. Susquehanna Fundamental Investments LLC purchased a new stake in Foot Locker during the first quarter worth about $3,488,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Foot Locker during the first quarter worth approximately $2,194,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Foot Locker during the first quarter worth approximately $2,670,000. Quadrant Capital Group LLC increased its stake in shares of Foot Locker by 3,004.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,397 shares of the athletic footwear retailer’s stock worth $44,000 after buying an additional 1,352 shares during the period. Finally, Verition Fund Management LLC increased its stake in shares of Foot Locker by 106.0% during the fourth quarter. Verition Fund Management LLC now owns 300,696 shares of the athletic footwear retailer’s stock worth $9,367,000 after buying an additional 154,708 shares during the period.

Foot Locker Company Profile

Foot Locker, Inc, through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, Australia, New Zealand, Asia, and the Middle East. Its brand portfolio includes Foot Locker, a brand comprising sneakers and apparel; Kids Foot Locker, which offers athletic footwear, apparel, and accessories for children; and Champs Sports that operates as a mall-based specialty athletic footwear and apparel retailer.