Foot Locker (NYSE:FL) Given “Market Perform” Rating at Telsey Advisory Group

by · The Cerbat Gem

Telsey Advisory Group reaffirmed their market perform rating on shares of Foot Locker (NYSE:FL – Free Report) in a report published on Tuesday,Benzinga reports. They currently have a $24.00 target price on the athletic footwear retailer’s stock.

Several other equities research analysts have also recently issued reports on FL. Barclays cut Foot Locker from an “overweight” rating to an “equal weight” rating in a research note on Thursday, May 29th. Wall Street Zen cut shares of Foot Locker to a “strong sell” rating in a research report on Saturday, August 30th. JPMorgan Chase & Co. raised shares of Foot Locker from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $16.00 to $24.00 in a research report on Thursday, May 15th. Gordon Haskett cut shares of Foot Locker from a “moderate buy” rating to a “hold” rating in a research report on Thursday, May 15th. Finally, Zacks Research raised shares of Foot Locker from a “strong sell” rating to a “hold” rating in a research report on Monday, August 18th. Two analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.33.

Get Our Latest Research Report on Foot Locker

Foot Locker Stock Performance

FL opened at $24.03 on Tuesday. The firm has a market capitalization of $2.30 billion, a PE ratio of -5.96, a PEG ratio of 2.17 and a beta of 1.79. Foot Locker has a twelve month low of $11.00 and a twelve month high of $29.24. The firm’s 50-day moving average price is $25.13 and its 200 day moving average price is $20.37. The company has a current ratio of 1.59, a quick ratio of 0.45 and a debt-to-equity ratio of 0.17.

Foot Locker (NYSE:FL – Get Free Report) last issued its earnings results on Wednesday, August 27th. The athletic footwear retailer reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.32). The firm had revenue of $1.86 billion for the quarter, compared to analysts’ expectations of $1.87 billion. Foot Locker had a positive return on equity of 2.92% and a negative net margin of 4.90%.Foot Locker’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share. As a group, sell-side analysts expect that Foot Locker will post 1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Giovanna Cipriano sold 22,383 shares of Foot Locker stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $24.90, for a total value of $557,336.70. Following the completion of the transaction, the chief accounting officer directly owned 93,895 shares in the company, valued at approximately $2,337,985.50. This trade represents a 19.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Franklin Bracken sold 14,922 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $24.50, for a total transaction of $365,589.00. Following the completion of the sale, the president owned 213,496 shares in the company, valued at $5,230,652. The trade was a 6.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Institutional Trading of Foot Locker

Several institutional investors and hedge funds have recently made changes to their positions in FL. GAMMA Investing LLC lifted its holdings in shares of Foot Locker by 250.6% in the 1st quarter. GAMMA Investing LLC now owns 2,468 shares of the athletic footwear retailer’s stock valued at $35,000 after purchasing an additional 1,764 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Foot Locker in the 1st quarter valued at about $59,000. Signaturefd LLC lifted its holdings in shares of Foot Locker by 27.2% in the 1st quarter. Signaturefd LLC now owns 4,579 shares of the athletic footwear retailer’s stock valued at $65,000 after purchasing an additional 980 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Foot Locker by 100,166.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 6,016 shares of the athletic footwear retailer’s stock valued at $85,000 after purchasing an additional 6,010 shares during the period. Finally, FORA Capital LLC acquired a new position in Foot Locker in the first quarter valued at $154,000.

About Foot Locker

(Get Free Report)

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.

Further Reading