Foot Locker, Inc. (FL) Rating Increased to Buy at Deutsche Bank AG

Deutsche Bank AG upgraded shares of Foot Locker, Inc. (NYSE:FL) from a hold rating to a buy rating in a report released on Friday. The brokerage currently has $45.00 price target on the athletic footwear retailer’s stock, up from their prior price target of $38.00.

A number of other analysts have also weighed in on FL. BidaskClub lowered shares of Foot Locker from a sell rating to a strong sell rating in a research note on Tuesday, July 25th. Cowen and Company reaffirmed a hold rating and issued a $52.00 price objective on shares of Foot Locker in a research note on Friday, July 28th. Credit Suisse Group reaffirmed a neutral rating and issued a $52.00 price objective (down from $66.00) on shares of Foot Locker in a research note on Tuesday, August 1st. Jefferies Group LLC reaffirmed a buy rating and issued a $80.00 price objective on shares of Foot Locker in a research note on Thursday, August 3rd. Finally, Barclays PLC set a $80.00 price objective on shares of Foot Locker and gave the stock a buy rating in a research note on Saturday, August 5th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $53.26.

Shares of Foot Locker (FL) opened at $40.69 on Friday. Foot Locker has a one year low of $28.42 and a one year high of $79.43. The firm has a market cap of $4,950.00, a PE ratio of 9.67, a P/E/G ratio of 2.84 and a beta of 0.66. The company has a quick ratio of 2.08, a current ratio of 4.39 and a debt-to-equity ratio of 0.05.

Foot Locker (NYSE:FL) last released its quarterly earnings data on Friday, November 17th. The athletic footwear retailer reported $0.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.07. Foot Locker had a net margin of 6.79% and a return on equity of 19.96%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same period in the prior year, the firm earned $1.13 earnings per share. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. analysts anticipate that Foot Locker will post 3.95 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, February 2nd. Investors of record on Friday, January 19th will be issued a $0.31 dividend. The ex-dividend date of this dividend is Thursday, January 18th. This represents a $1.24 annualized dividend and a yield of 3.05%. Foot Locker’s dividend payout ratio (DPR) is presently 31.23%.

A number of large investors have recently modified their holdings of the stock. D.A. Davidson & CO. grew its stake in shares of Foot Locker by 50.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,133 shares of the athletic footwear retailer’s stock worth $105,000 after purchasing an additional 714 shares during the period. Penserra Capital Management LLC grew its stake in shares of Foot Locker by 13.0% during the 2nd quarter. Penserra Capital Management LLC now owns 3,016 shares of the athletic footwear retailer’s stock worth $148,000 after purchasing an additional 348 shares during the period. Smithfield Trust Co. grew its stake in shares of Foot Locker by 276.2% during the 3rd quarter. Smithfield Trust Co. now owns 3,198 shares of the athletic footwear retailer’s stock worth $113,000 after purchasing an additional 2,348 shares during the period. Assetmark Inc. grew its stake in shares of Foot Locker by 205.0% during the 3rd quarter. Assetmark Inc. now owns 3,834 shares of the athletic footwear retailer’s stock worth $135,000 after purchasing an additional 2,577 shares during the period. Finally, Pacer Advisors Inc. grew its stake in shares of Foot Locker by 49.6% during the 2nd quarter. Pacer Advisors Inc. now owns 3,935 shares of the athletic footwear retailer’s stock worth $194,000 after purchasing an additional 1,305 shares during the period. Institutional investors own 87.42% of the company’s stock.

About Foot Locker

Foot Locker, Inc is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company is an athletic footwear and apparel retailer, which include businesses, such as include 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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