Gordon Haskett Initiates Coverage on Foot Locker (NYSE:FL)

by · The Cerbat Gem

Gordon Haskett began coverage on shares of Foot Locker (NYSE:FL – Free Report) in a report published on Monday morning, Marketbeat reports. The firm issued an accumulate rating and a $27.00 target price on the athletic footwear retailer’s stock.

A number of other analysts have also commented on FL. Telsey Advisory Group reaffirmed a market perform rating and issued a $27.00 target price on shares of Foot Locker in a research report on Wednesday, August 28th. Morgan Stanley cut Foot Locker from an equal weight rating to an underweight rating and cut their target price for the stock from $24.00 to $18.00 in a report on Thursday, July 18th. StockNews.com downgraded shares of Foot Locker from a hold rating to a sell rating in a report on Friday, September 20th. Robert W. Baird decreased their target price on shares of Foot Locker from $35.00 to $27.00 and set a neutral rating for the company in a research report on Wednesday, September 25th. Finally, Citigroup raised their price target on shares of Foot Locker from $27.00 to $33.00 and gave the company a neutral rating in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $25.94.

View Our Latest Analysis on FL

Foot Locker Stock Up 2.2 %

Shares of Foot Locker stock opened at $23.37 on Monday. Foot Locker has a one year low of $19.44 and a one year high of $35.60. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.66 and a quick ratio of 0.49. The stock’s 50-day moving average is $28.22 and its 200 day moving average is $25.69. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -6.16, a PEG ratio of 0.58 and a beta of 1.43.

Foot Locker (NYSE:FL – Get Free Report) last released its quarterly earnings data on Wednesday, August 28th. The athletic footwear retailer reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.03. The company had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.88 billion. Foot Locker had a negative net margin of 4.48% and a positive return on equity of 2.73%. Equities research analysts anticipate that Foot Locker will post 1.51 EPS for the current year.

Insider Transactions at Foot Locker

In related news, major shareholder Vesa Equity Investment S.A R.L sold 539,180 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $33.22, for a total transaction of $17,911,559.60. Following the completion of the transaction, the insider now owns 10,393,592 shares in the company, valued at approximately $345,275,126.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 787,566 shares of company stock worth $26,090,866 in the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. lifted its position in shares of Foot Locker by 326.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 921,273 shares of the athletic footwear retailer’s stock valued at $26,256,000 after buying an additional 705,237 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Foot Locker by 23.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 2,900,439 shares of the athletic footwear retailer’s stock worth $72,279,000 after purchasing an additional 557,489 shares during the period. Point72 Asset Management L.P. bought a new position in Foot Locker during the second quarter worth about $10,005,000. Invenomic Capital Management LP increased its stake in shares of Foot Locker by 54.3% in the first quarter. Invenomic Capital Management LP now owns 752,320 shares of the athletic footwear retailer’s stock worth $21,441,000 after purchasing an additional 264,598 shares in the last quarter. Finally, Seven Eight Capital LP bought a new stake in shares of Foot Locker in the first quarter valued at approximately $6,073,000.

Foot Locker Company Profile

(Get Free Report)

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.

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