Foot Locker (FL) Given a $51.00 Price Target at Piper Jaffray Companies

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Foot Locker (NYSE:FL) has been given a $51.00 price objective by investment analysts at Piper Jaffray Companies in a research report issued on Wednesday, The Fly reports. The firm presently has a “hold” rating on the athletic footwear retailer’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 10.65% from the stock’s current price.

Other analysts have also recently issued reports about the stock. ValuEngine cut shares of Foot Locker from a “hold” rating to a “sell” rating in a research note on Saturday, July 28th. Morgan Stanley started coverage on shares of Foot Locker in a research note on Wednesday, August 1st. They set an “underweight” rating and a $44.00 price target on the stock. Zacks Investment Research cut shares of Foot Locker from a “buy” rating to a “hold” rating in a research note on Friday, August 10th. OTR Global upgraded shares of Foot Locker to a “positive” rating in a research note on Thursday, August 16th. Finally, Canaccord Genuity set a $66.00 price target on shares of Foot Locker and gave the company a “buy” rating in a research note on Friday, August 17th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company. Foot Locker presently has a consensus rating of “Buy” and an average price target of $57.87.

FL opened at $46.09 on Wednesday. Foot Locker has a 1-year low of $38.17 and a 1-year high of $59.40. The company has a quick ratio of 1.76, a current ratio of 3.50 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 11.21, a P/E/G ratio of 1.71 and a beta of 0.84.

Foot Locker (NYSE:FL) last posted its earnings results on Tuesday, November 20th. The athletic footwear retailer reported $0.95 EPS for the quarter, topping the consensus estimate of $0.92 by $0.03. The company had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.86 billion. Foot Locker had a net margin of 3.88% and a return on equity of 20.67%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, equities analysts predict that Foot Locker will post 4.46 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Zacks Investment Management boosted its position in Foot Locker by 5.4% during the 2nd quarter. Zacks Investment Management now owns 28,220 shares of the athletic footwear retailer’s stock valued at $1,486,000 after buying an additional 1,440 shares during the period. Vestpro Financial Partners Inc. dba CPF Texas boosted its position in Foot Locker by 21.7% during the 2nd quarter. Vestpro Financial Partners Inc. dba CPF Texas now owns 12,996 shares of the athletic footwear retailer’s stock valued at $684,000 after buying an additional 2,321 shares during the period. Public Employees Retirement System of Ohio boosted its position in Foot Locker by 21.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 57,352 shares of the athletic footwear retailer’s stock valued at $3,020,000 after buying an additional 9,963 shares during the period. Dimensional Fund Advisors LP boosted its position in Foot Locker by 26.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,157,573 shares of the athletic footwear retailer’s stock valued at $113,606,000 after buying an additional 453,209 shares during the period. Finally, Empowered Funds LLC boosted its position in Foot Locker by 24.0% during the 3rd quarter. Empowered Funds LLC now owns 66,349 shares of the athletic footwear retailer’s stock valued at $3,359,000 after buying an additional 12,853 shares during the period.

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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