Telsey Advisory Group Reaffirms Market Perform Rating for Foot Locker (NYSE:FL)

Foot Locker (NYSE:FL)‘s stock had its “market perform” rating restated by research analysts at Telsey Advisory Group in a report issued on Tuesday,Benzinga reports. They presently have a $24.00 target price on the athletic footwear retailer’s stock. Telsey Advisory Group’s price target indicates a potential upside of 33.57% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Piper Sandler cut their target price on shares of Foot Locker from $30.00 to $28.00 and set a “neutral” rating on the stock in a report on Monday, December 2nd. UBS Group dropped their price objective on shares of Foot Locker from $26.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, December 5th. Evercore ISI reduced their target price on shares of Foot Locker from $38.00 to $32.00 and set an “outperform” rating for the company in a report on Tuesday, November 26th. Jefferies Financial Group dropped their price target on Foot Locker from $27.00 to $22.00 and set a “hold” rating on the stock in a research report on Wednesday, December 4th. Finally, Needham & Company LLC reduced their price objective on Foot Locker from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.94.

Foot Locker Price Performance

Shares of FL opened at $17.97 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.67 and a quick ratio of 0.45. Foot Locker has a 1-year low of $17.67 and a 1-year high of $34.99. The stock has a market cap of $1.70 billion, a PE ratio of -3.98, a price-to-earnings-growth ratio of 0.53 and a beta of 1.48. The firm has a fifty day moving average price of $20.53 and a 200 day moving average price of $23.97.

Foot Locker (NYSE:FL) last posted its earnings results on Wednesday, December 4th. The athletic footwear retailer reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. As a group, sell-side analysts anticipate that Foot Locker will post 1.23 EPS for the current year.

Institutional Investors Weigh In On Foot Locker

Several institutional investors have recently modified their holdings of the company. Harbour Investments Inc. raised its stake in shares of Foot Locker by 81.6% during the 4th quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock worth $31,000 after buying an additional 648 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Foot Locker during the 4th quarter valued at $32,000. R Squared Ltd acquired a new stake in Foot Locker during the 4th quarter valued at $50,000. Sterling Capital Management LLC increased its position in Foot Locker by 819.2% during the fourth quarter. Sterling Capital Management LLC now owns 2,629 shares of the athletic footwear retailer’s stock worth $57,000 after buying an additional 2,343 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Foot Locker during the third quarter valued at $58,000.

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.