Foot Locker (FL) Receives New Coverage from Analysts at Credit Suisse Group

Equities researchers at Credit Suisse Group assumed coverage on shares of Foot Locker (NYSE:FL) in a research report issued to clients and investors on Monday. The brokerage set an “outperform” rating and a $50.00 price target on the athletic footwear retailer’s stock. Credit Suisse Group’s target price would suggest a potential upside of 15.42% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Foot Locker from a “buy” rating to a “hold” rating in a report on Monday. Wedbush reiterated an “outperform” rating on shares of Foot Locker in a report on Monday, February 5th. OTR Global upgraded shares of Foot Locker to a “positive” rating in a report on Friday, February 9th. Buckingham Research decreased their price target on shares of Foot Locker from $57.00 to $53.00 and set a “buy” rating on the stock in a report on Monday, March 5th. Finally, Barclays lifted their price target on shares of Foot Locker from $55.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $54.23.

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Shares of Foot Locker (NYSE:FL) traded up $0.76 during midday trading on Monday, reaching $43.32. 5,439,628 shares of the company were exchanged, compared to its average volume of 4,022,652. Foot Locker has a 1 year low of $28.42 and a 1 year high of $77.86. The firm has a market capitalization of $5,160.00, a price-to-earnings ratio of 14.59, a P/E/G ratio of 1.49 and a beta of 0.84. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.07 and a current ratio of 4.14.

Foot Locker (NYSE:FL) last announced its earnings results on Friday, March 2nd. The athletic footwear retailer reported $1.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.01. Foot Locker had a net margin of 3.65% and a return on equity of 19.32%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter last year, the business earned $1.37 earnings per share. Foot Locker’s revenue was up 4.6% compared to the same quarter last year. analysts anticipate that Foot Locker will post 4.4 EPS for the current fiscal year.

In other news, Director Matthew M. Mckenna sold 10,899 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $45.82, for a total value of $499,392.18. Following the completion of the sale, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,603,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard A. Johnson sold 25,000 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $50.05, for a total transaction of $1,251,250.00. The disclosure for this sale can be found here. Insiders sold a total of 56,899 shares of company stock valued at $2,801,692 in the last three months. Insiders own 1.73% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FL. TIAA CREF Investment Management LLC boosted its holdings in shares of Foot Locker by 0.4% in the 4th quarter. TIAA CREF Investment Management LLC now owns 415,656 shares of the athletic footwear retailer’s stock valued at $19,486,000 after buying an additional 1,456 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Foot Locker by 5.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 34,185 shares of the athletic footwear retailer’s stock valued at $1,603,000 after buying an additional 1,900 shares during the period. Cibc Bank USA boosted its holdings in shares of Foot Locker by 17.0% in the 4th quarter. Cibc Bank USA now owns 14,295 shares of the athletic footwear retailer’s stock valued at $670,000 after buying an additional 2,080 shares during the period. Swiss National Bank boosted its holdings in shares of Foot Locker by 0.5% in the 3rd quarter. Swiss National Bank now owns 484,900 shares of the athletic footwear retailer’s stock valued at $17,078,000 after buying an additional 2,400 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of Foot Locker by 0.3% in the 4th quarter. Clearbridge Investments LLC now owns 968,050 shares of the athletic footwear retailer’s stock valued at $45,382,000 after buying an additional 2,547 shares during the period. 96.49% of the stock is owned by institutional investors.

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About Foot Locker

Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02.

Analyst Recommendations for Foot Locker (NYSE:FL)

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