B. Riley Trims Foot Locker (NYSE:FL) Target Price to $62.00

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Foot Locker (NYSE:FL) had its price target reduced by B. Riley from $73.00 to $62.00 in a report published on Monday, BenzingaRatingsTable reports. They currently have a buy rating on the athletic footwear retailer’s stock. B. Riley also issued estimates for Foot Locker’s Q3 2020 earnings at $1.11 EPS, Q4 2020 earnings at $1.73 EPS, FY2020 earnings at $5.04 EPS and FY2021 earnings at $5.60 EPS.

Other research analysts have also issued research reports about the company. Deutsche Bank dropped their target price on Foot Locker from $82.00 to $68.00 and set a buy rating on the stock in a report on Tuesday, May 28th. ValuEngine lowered Foot Locker from a hold rating to a sell rating in a report on Friday, May 24th. Pivotal Research reissued a buy rating and issued a $60.00 target price on shares of Foot Locker in a report on Tuesday, May 28th. Morgan Stanley raised Foot Locker from an underweight rating to an equal weight rating and set a $40.00 target price on the stock in a report on Thursday, August 8th. Finally, TheStreet lowered Foot Locker from a b- rating to a c+ rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. Foot Locker currently has an average rating of Buy and a consensus target price of $66.44.

NYSE:FL opened at $41.93 on Monday. The firm has a market cap of $4.30 billion, a P/E ratio of 8.19, a PEG ratio of 0.79 and a beta of 0.98. The company has a current ratio of 2.01, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. The stock’s 50 day simple moving average is $40.99 and its 200-day simple moving average is $51.11. Foot Locker has a 12-month low of $36.81 and a 12-month high of $68.00.

Foot Locker (NYSE:FL) last released its earnings results on Friday, May 24th. The athletic footwear retailer reported $1.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.61 by ($0.08). The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.11 billion. Foot Locker had a net margin of 6.86% and a return on equity of 21.75%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.45 EPS. Research analysts forecast that Foot Locker will post 5 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a $0.38 dividend. The ex-dividend date is Thursday, October 17th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.63%. Foot Locker’s dividend payout ratio (DPR) is presently 32.27%.

In related news, Director Matthew M. Mckenna sold 7,000 shares of Foot Locker stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $40.53, for a total value 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 can be accessed through this link. 2.40% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Foot Locker by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,685,329 shares of the athletic footwear retailer’s stock valued at $142,856,000 after buying an additional 263,890 shares during the period. Geode Capital Management LLC boosted its position in Foot Locker by 6.6% during the 4th quarter. Geode Capital Management LLC now owns 1,888,639 shares of the athletic footwear retailer’s stock valued at $100,376,000 after buying an additional 117,582 shares during the period. Virtu Financial LLC purchased a new stake in Foot Locker during the 1st quarter valued at $210,000. Pennsylvania Trust Co purchased a new stake in Foot Locker during the 1st quarter valued at $4,755,000. Finally, Oakbrook Investments LLC boosted its position in Foot Locker by 91.3% during the 1st quarter. Oakbrook Investments LLC now owns 10,895 shares of the athletic footwear retailer’s stock valued at $660,000 after buying an additional 5,200 shares during the period. Hedge funds and other institutional investors own 99.61% of the company’s stock.

Foot Locker Company Profile

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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Analyst Recommendations for Foot Locker (NYSE:FL)

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