Pivotal Research Reaffirms “Buy” Rating for Foot Locker (FL)

Foot Locker (NYSE:FL)‘s stock had its “buy” rating reissued by stock analysts at Pivotal Research in a research report issued on Tuesday. They currently have a $57.00 price objective on the athletic footwear retailer’s stock. Pivotal Research’s price target indicates a potential upside of 28.76% from the stock’s previous close.

The analysts wrote, “2018 BOTTOM LINE: FL reports 1Q18 on Friday, May 25 th before the market opens. We’re modeling 1Q18 and FY18 in line with guidance, which reflects weak quarterly results and not much improvement over the balance of the year. We remain optimistic that the year will be better than FL’s plan, as the product pipeline improves, down-trending franchises become less of a pressure point, and margins recover on cleaner inventory.””

Other equities analysts have also recently issued research reports about the company. Buckingham Research reduced their price target on Foot Locker from $57.00 to $53.00 and set a “buy” rating for the company in a report on Monday, March 5th. OTR Global upgraded Foot Locker to a “positive” rating in a report on Friday, February 9th. Wedbush restated an “outperform” rating on shares of Foot Locker in a report on Monday, February 5th. Zacks Investment Research upgraded Foot Locker from a “hold” rating to a “strong-buy” rating and set a $57.00 price objective for the company in a report on Friday, February 2nd. Finally, ValuEngine cut Foot Locker from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 2nd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $54.33.

Foot Locker stock opened at $44.27 on Tuesday. Foot Locker has a 52 week low of $28.42 and a 52 week high of $60.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.14 and a quick ratio of 2.07. The stock has a market cap of $5.34 billion, a P/E ratio of 10.77, a price-to-earnings-growth ratio of 1.52 and a beta of 0.86.

Foot Locker (NYSE:FL) last posted its quarterly earnings results on Friday, March 2nd. The athletic footwear retailer reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Foot Locker had a return on equity of 19.32% and a net margin of 3.65%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.23 billion. During the same quarter last year, the company posted $1.37 earnings per share. Foot Locker’s quarterly revenue was up 4.6% on a year-over-year basis. sell-side analysts predict that Foot Locker will post 4.45 EPS for the current year.

In other Foot Locker news, CEO Lewis Phillip Kimble sold 11,043 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $42.71, for a total transaction of $471,646.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jarobin Gilbert, Jr. sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, March 12th. The shares were sold at an average price of $43.44, for a total transaction of $65,160.00. The disclosure for this sale can be found here. 2.10% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in FL. Signaturefd LLC acquired a new position in shares of Foot Locker during the first quarter worth $103,000. CenterStar Asset Management LLC acquired a new position in shares of Foot Locker during the fourth quarter worth $138,000. Synovus Financial Corp acquired a new position in shares of Foot Locker during the first quarter worth $158,000. Rampart Investment Management Company LLC increased its holdings in shares of Foot Locker by 119.0% during the first quarter. Rampart Investment Management Company LLC now owns 3,626 shares of the athletic footwear retailer’s stock worth $165,000 after buying an additional 1,970 shares in the last quarter. Finally, Truewealth LLC acquired a new position in shares of Foot Locker during the fourth quarter worth $169,000. Institutional investors and hedge funds own 91.31% of the company’s stock.

About Foot Locker

Foot Locker, Inc, through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including 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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