Analysts Set Foot Locker, Inc. (NYSE:FL) Target Price at $60.73

Foot Locker, Inc. (NYSE:FL) has earned a consensus rating of “Hold” from the twenty-four research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $60.73.

Several equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Foot Locker from $72.00 to $76.00 and gave the company a “hold” rating in a research note on Monday, August 23rd. Telsey Advisory Group raised their target price on shares of Foot Locker from $64.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, August 23rd. Pivotal Research raised their target price on shares of Foot Locker from $82.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 18th. Morgan Stanley raised their target price on shares of Foot Locker from $63.00 to $68.00 and gave the company an “equal weight” rating in a research note on Monday, August 23rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Foot Locker from $58.00 to $68.00 and gave the company a “neutral” rating in a research note on Monday, August 16th.

Shares of NYSE FL traded down $0.04 during midday trading on Monday, reaching $47.40. The company’s stock had a trading volume of 11,638 shares, compared to its average volume of 1,773,328. Foot Locker has a fifty-two week low of $35.86 and a fifty-two week high of $66.71. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 4.89, a PEG ratio of 1.84 and a beta of 1.37. The stock has a 50 day simple moving average of $52.54 and a 200-day simple moving average of $57.29.

Foot Locker (NYSE:FL) last posted its quarterly earnings data on Thursday, August 19th. The athletic footwear retailer reported $2.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $1.20. Foot Locker had a net margin of 11.69% and a return on equity of 24.92%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same period last year, the company earned $0.71 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year. On average, research analysts predict that Foot Locker will post 7.12 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 14th. This is a boost from Foot Locker’s previous quarterly dividend of $0.20. This represents a $1.20 annualized dividend and a yield of 2.53%. Foot Locker’s dividend payout ratio is presently 28.47%.

Several institutional investors have recently bought and sold shares of FL. Vanguard Group Inc. raised its position in shares of Foot Locker by 4.5% during the second quarter. Vanguard Group Inc. now owns 10,308,306 shares of the athletic footwear retailer’s stock worth $635,301,000 after purchasing an additional 445,365 shares during the period. State Street Corp raised its position in Foot Locker by 3.9% in the 2nd quarter. State Street Corp now owns 2,743,438 shares of the athletic footwear retailer’s stock valued at $169,078,000 after buying an additional 103,733 shares during the last quarter. Geode Capital Management LLC raised its position in Foot Locker by 3.3% in the 1st quarter. Geode Capital Management LLC now owns 1,369,107 shares of the athletic footwear retailer’s stock valued at $77,021,000 after buying an additional 43,649 shares during the last quarter. Ceredex Value Advisors LLC raised its position in Foot Locker by 6.7% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,308,650 shares of the athletic footwear retailer’s stock valued at $80,652,000 after buying an additional 81,850 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Foot Locker by 335.4% in the 2nd quarter. Prudential Financial Inc. now owns 982,851 shares of the athletic footwear retailer’s stock valued at $60,573,000 after buying an additional 757,112 shares during the last quarter. Hedge funds and other institutional investors own 90.82% of the company’s stock.

Foot Locker Company Profile

Foot Locker, Inc engages in the retail of athletic shoes and apparel. The firm uses its omni-channel capabilities to bridge the digital world and physical stores, including order-in-store, buy online and pickup-in-store, and buy online and ship-from-store, as well as e-commerce. It operates through following segments: North America, EMEA (Europe, Middle East, and Africa, and Asia Pacific.

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Analyst Recommendations for Foot Locker (NYSE:FL)

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