Pivotal Research reissued their buy rating on shares of Foot Locker (NYSE:FL) in a report released on Tuesday, AnalystRatings.com reports. Pivotal Research currently has a $53.00 price objective on the athletic footwear retailer’s stock.
“We feel like 2Q19 was a mixed bag, with the puts/takes likely adding up to an in-line quarter. Probably the best news for FL is that, unlike many other retailers, the company has minimal weather exposure, so unforeseen margin pressure seems unlikely. We suspect that running was FL’s strongest comping footwear category, driven by solid Nike Air Max performance, the releases of a sequential uptick in adidas Boost. We also suspect that casual footwear was positive, albeit not as strong as last quarter, as Yeezy likely performed well, but Champion appear to have slowed.”,” Pivotal Research’s analyst wrote.
Other research analysts also recently issued reports about the company. B. Riley dropped their price target on Foot Locker from $73.00 to $62.00 and set a buy rating on the stock in a research report on Monday. Morgan Stanley raised Foot Locker from an underweight rating to an equal weight rating and set a $40.00 price target on the stock in a research report on Thursday, August 8th. Guggenheim reaffirmed a buy rating and issued a $60.00 price target on shares of Foot Locker in a research report on Friday, May 24th. Canaccord Genuity dropped their price target on Foot Locker from $82.00 to $81.00 and set a buy rating on the stock in a research report on Friday, May 24th. Finally, ValuEngine downgraded Foot Locker from a hold rating to a sell rating in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $66.44.
Shares of FL stock opened at $41.93 on Tuesday. The stock’s 50 day simple moving average is $40.99 and its 200 day simple moving average is $51.11. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 2.01. Foot Locker has a twelve month low of $36.81 and a twelve month high of $68.00. The company has a market capitalization of $4.30 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 0.79 and a beta of 0.98.
Foot Locker (NYSE:FL) last issued its quarterly earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.61 by ($0.08). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.11 billion. Foot Locker had a return on equity of 21.75% and a net margin of 6.86%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.45 earnings per share. On average, analysts forecast that Foot Locker will post 5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date is Thursday, October 17th. Foot Locker’s dividend payout ratio is presently 32.27%.
In other news, Director Matthew M. Mckenna sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $40.53, for a total transaction of $283,710.00. Following the sale, the director now directly owns 26,862 shares in the company, valued at $1,088,716.86. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FL. Magnetar Financial LLC boosted its stake in Foot Locker by 30.5% in the second quarter. Magnetar Financial LLC now owns 20,536 shares of the athletic footwear retailer’s stock worth $861,000 after purchasing an additional 4,795 shares in the last quarter. Prudential PLC boosted its stake in Foot Locker by 12.2% in the second quarter. Prudential PLC now owns 1,083,362 shares of the athletic footwear retailer’s stock worth $45,432,000 after purchasing an additional 117,645 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its stake in Foot Locker by 191.2% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,182 shares of the athletic footwear retailer’s stock worth $415,000 after purchasing an additional 6,685 shares in the last quarter. Private Capital Group LLC boosted its stake in Foot Locker by 80.3% in the second quarter. Private Capital Group LLC now owns 1,082 shares of the athletic footwear retailer’s stock worth $57,000 after purchasing an additional 482 shares in the last quarter. Finally, United Services Automobile Association boosted its stake in Foot Locker by 1.6% in the second quarter. United Services Automobile Association now owns 113,453 shares of the athletic footwear retailer’s stock worth $4,756,000 after purchasing an additional 1,799 shares in the last quarter. Institutional investors and hedge funds own 99.61% 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.
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