Foot Locker (NYSE:FL) Receives “Market Perform” Rating from Telsey Advisory Group

Foot Locker (NYSE:FL)‘s stock had its “market perform” rating reiterated by equities researchers at Telsey Advisory Group in a report released on Wednesday,Benzinga reports. They presently have a $24.00 price objective on the athletic footwear retailer’s stock. Telsey Advisory Group’s price target suggests a potential upside of 34.71% from the company’s current price.

A number of other equities research analysts have also recently issued reports on FL. Evercore ISI decreased their price target on shares of Foot Locker from $30.00 to $22.00 and set an “outperform” rating for the company in a report on Monday. Needham & Company LLC reduced their target price on shares of Foot Locker from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, January 24th. The Goldman Sachs Group reduced their target price on shares of Foot Locker from $25.00 to $22.00 and set a “sell” rating for the company in a research note on Thursday, December 5th. JPMorgan Chase & Co. reduced their target price on shares of Foot Locker from $23.00 to $20.00 and set an “underweight” rating for the company in a research note on Friday, January 24th. Finally, Jefferies Financial Group reduced their target price on shares of Foot Locker from $27.00 to $22.00 and set a “hold” rating for the company in a research note on Wednesday, December 4th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Foot Locker has an average rating of “Hold” and an average target price of $23.35.

Foot Locker Stock Down 2.4 %

FL stock opened at $17.82 on Wednesday. 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 52-week low of $16.92 and a 52-week high of $33.94. The company has a 50-day moving average of $19.91 and a two-hundred day moving average of $23.33. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -3.95, a price-to-earnings-growth ratio of 0.53 and a beta of 1.55.

Foot Locker (NYSE:FL) last released its quarterly earnings results on Wednesday, March 5th. The athletic footwear retailer reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.13. Foot Locker had a negative net margin of 5.24% and a positive return on equity of 2.91%. The company had revenue of $2.25 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the company earned $0.38 earnings per share. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Foot Locker will post 1.23 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Summit Investment Advisors Inc. increased its holdings in shares of Foot Locker by 6.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,728 shares of the athletic footwear retailer’s stock valued at $190,000 after purchasing an additional 562 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Foot Locker by 81.6% in the fourth quarter. Harbour Investments Inc. now owns 1,442 shares of the athletic footwear retailer’s stock valued at $31,000 after purchasing an additional 648 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in shares of Foot Locker by 2.4% in the third quarter. Chartwell Investment Partners LLC now owns 33,685 shares of the athletic footwear retailer’s stock valued at $870,000 after purchasing an additional 782 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of Foot Locker by 32.5% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,267 shares of the athletic footwear retailer’s stock valued at $84,000 after purchasing an additional 801 shares in the last quarter. Finally, Foundry Partners LLC increased its holdings in shares of Foot Locker by 8.8% in the fourth quarter. Foundry Partners LLC now owns 12,784 shares of the athletic footwear retailer’s stock valued at $278,000 after purchasing an additional 1,031 shares in the last quarter.

About Foot Locker

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.